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No way? Two AI on-chain contract stocks in the Hong Kong market surged more than ten points in one day, yet large long positions are still showing losses on paper 😂
$ZHIPU corresponding to Zhipu and $MINIMAX corresponding to MiniMax are both perpetual contracts listed on-chain for Hong Kong stocks. In the past 24 hours, they have risen about 11% and 13%, currently priced around $60.5 and $21.7 respectively, looking like a V-shaped recovery.
Counting only single positions not less than $100,000, among the 6 large long positions in Zhipu, only 2 are in profit, with a combined floating loss of about $1.83 million. The weighted average entry price is around 75.66, still quite far from breakeven. On the short side, 14 large positions have a weighted entry price around 77, currently profitable, but 2 positions are already close to the breakeven line.
MiniMax is a bit easier; among 3 large long positions, 2 have turned green, with a combined floating loss of only about $8,800. The weighted entry price is 22.21, almost back to breakeven. On the short side, 5 large orders have a weighted entry price around 34, with a floating profit of about $550,000.
From my perspective, this rebound can still continue for a while. MiniMax longs are almost breathing a sigh of relief, while Zhipu needs to touch back to around 75, with a tough battle in between.
For beginners, I suggest watching more and trading less; when buying coins, only buy $BTC Ethereum usability improves, but ETH economic model deteriorates Ethereum network is becoming cheaper and more efficient, but the value capture of its native token has not kept pace. Large enterprise Ethereum holder BitMine has an unrealized loss exceeding $4 billion and prioritizes stock buybacks over continuing to purchase ETH. In October, Ethereum spot ETFs saw net outflows exceeding $1.2 billion. Meanwhile, 1.37 million ETH are queued for staking, indicating some holders still have long-term confidence despite bearish market sentiment. Disconnect between utility and value The core issue lies in the broken transmission chain between network utility and token value. Mainnet fees have dropped significantly, with the base fee rate at only 0.06 Gwei. ENS abandoned its dedicated L2 plan, and the highly anticipated Glamsterdam upgrade was delayed due to audit risks. These developments depict a more user-friendly and cheaper network, but ETH's monetary properties are weakening. At a base fee rate of 0.06 Gwei, Ethereum has shifted from a deflationary asset to a daily net issuance. The burn mechanism that once made ETH a “super sound money” is now almost ineffective. This structural shift means that even with increased adoption, ETH supply is growing, diluting holders' equity. Institutional caution and staking demand ETF fund outflows and BitMine's strategic shift reflect broader institutional caution. BitMine's decision to buy back stock rather than increase ETH holdings indicates corporate treasuries are reassessing the risk-return profile of holding the asset. However, the staking queue of 1.37 million ETHUSDC growing bigger does not mean Circle is earning more
Circle is about to release its financial report, and everyone watching is focused on stablecoin scale.
Scale increases, but money doesn't necessarily follow.
The rule is: it earns interest on reserves
USDC is backed by cash and short-term debt, and the interest belongs to it.
Part of this interest must also be shared with channel partners.
Common misunderstanding: scale does not equal profit
Interest is collected based on scale, and the portion shared out is also based on scale.
As yields drop, the extra scale will be divided and consumed.
Working backward, if scale grows by 10%, profit might only grow by 5%.
The only thing left to improve is business diversification.
One-time gains propping up numbers in the financial report won't repeat next quarter.
#CircleQ3营收超预期，USDC链上交易量增长49%
#$USDC I see that for large position openings, the habit is to first convert profit and loss into money, then look at the direction. My judgment is: the position size only indicates how much is staked, it does not indicate how accurate the judgment is; beginners should learn to set a loss budget.
This time Core Trader 25 (0xc3d101…d200e) opened a long HYPE position with 10x leverage, with a nominal position of about $100,000. Roughly calculated by leverage, the initial margin corresponds to about $10,000, but this does not mean the wallet only bears this much risk; the margin mode and subsequent operations must also be considered.
📌For example: if the price moves 1% against the position, this position would have an unrealized loss of about $1,000, which is about 10% of the above margin, excluding fees for now. The nominal position determines how much money corresponds to price fluctuations, while leverage amplifies the rate at which margin is consumed. Beginners often use "how much margin I can pay" as the basis for position size, but do not calculate how much they will lose when stop loss is triggered. My reminder to myself is: first set how much you can afford to lose, then work backward to determine the position size. The loss for Trump's camp was larger than most had anticipated before the race—the real highlight is not the result itself, but that it exposed a previously overlooked pricing blind spot in the market. Over the past few months, a portion of funds in the crypto market had been preemptively pricing in "regulatory easing," treating policy benefits as a given. Now that the Democrats have taken control of both houses of Congress, the foundation of this narrative has weakened. Many key issues will need to be renegotiated and repeatedly contested with the Democrats, and the industry deregulation legislation that the market eagerly anticipated is unlikely to materialize in the short term. In other words, those policy expectations that were prematurely priced in now require a collective correction. There is an easily underestimated secondary effect here: a disappointment in expectations does not mean funds will immediately withdraw; rather, it enters a "re-pricing" digestion period. After the news is announced, the market will first reassess and then observe how funds absorb this wave of volatility. What truly determines the short-term direction is not the news headline, but the liquidity's capacity to support this expectation adjustment. $BTC, as the sentiment anchor, will react first to set the tone; $ETH and $SOL are more likely to amplify swings in risk appetite, and if funds choose to wait and see, the volatility of high-beta assets will be more pronounced. My judgment is: the market had been overly optimistic in pricing policy benefits, and this result constitutes an "expectation gap correction," with short-term bearish pressure coming from expectation retracement rather than fundamental deterioration. The confirmation signal is simple—watch whether trading volume contracts during the pullback; if selling pressure is absorbed in an orderly manner, it indicates a healthy expectation recalibration; if volume expands and breaks down, it meansThis surge, frankly, boils down to two reasons:
First, the election results have been finalized. The Democrats won quite clearly, so the market's lingering uncertainty finally has an answer. US stock risk appetite has warmed up, and crypto has followed suit.
Second, the shorts got squeezed hard. After the price broke through 80,000, short positions were forced to close, and liquidations pushed the rally, amplifying the speed of the rise. This kind of rally comes fast but lacks a solid foundation.
The key issue is this: spot ETFs have seen net outflows of about 1.16 billion over three consecutive days as of November 3. The capital flow simply does not support the claim that "ETFs are driving this." So this wave looks more like a short-term emotional release, and its sustainability still needs to be observed.
Don't rush to call a reversal or a bull comeback. Only if it can steadily hold above 82,800 will this round of correction truly be over. Until then, any rebound is just a rebound.
Unfortunately, the short positions around 78,200/2300 yesterday were stopped out at 79,400/2360, I admit that trade. Fortunately, the early morning shorting captured quite a bit of room, so overall no loss. Afterwards, I stayed flat and didn't rush to open new positions.
Why not open more? Because once you stop out on a trade, emotions tend to run high, and you rush into a second trade—which often carries the "recover losses" burden.
So I don't like, nor do I recommend, consecutive trades. Don't let emotions control you; give yourself some buffer time and give the market some time to consolidate.
$BTC $ETH #非农在即，就业数据能否强化12月加息预期？ What I'm focusing on is the "small" aspect of this round of financing: Solana financing and governance platform MetaDAO has launched MetaDAO Apps, targeting consumer app founders, with both the financing scale and the token allocation ratio for supporters lower than conventional financing. Founders can sell the tokens they've earned earlier after achieving performance milestones and complying with sales restrictions. 👀
This is somewhat interesting, but I think it adds emotional value to the consumer app sector, which doesn't necessarily mean small coins generally benefit. Financing provides an additional path for app development; the lower allocation ratio for supporters also doesn't directly imply the tokens are more attractive. If the hype spreads to highly volatile assets, there might be a window of attention, but sentiment running ahead of the product also increases the risk of pullbacks.
My observation sequence is to first see if the app can retain users, then how milestones are validated, and not to rush to treat financing news as proof of value. What sectors in consumer apps have people been paying attention to recently: social, gaming, or payments? Don't fantasize that this news will directly send BTC to the moon.
The Democrats took control of both chambers, but BTC's current gain is only +0.17%, and the sentiment has basically been priced in.
The real risk lies in new crypto legislation aiming to expand SEC regulatory powers, a shackle that will clamp down on both BTC and ETH.
BTC has enough scale and resilience, so it will most likely just trade sideways with some choppy consolidation.
ETH isn't as stable. With more business touchpoints, once regulation tightens, ETH's volatility will be fiercer. Even if BTC holds steady, ETH can easily be dumped separately.
The internet is in an uproar, debating whether this is bullish or bearish for BTC and ETH. But the money has already played out in advance.
Next up, BTC and ETH will just oscillate and shake out positions, specifically targeting traders betting on news. A slight pump will lure you in, then reverse to trigger stop losses.
There's no need to stubbornly bet on BTC or ETH's short-term direction. Policy expectations are too uncertain, and this kind of money is hard to make.
$BTC C $ETH #美国中期选举：民主党赢得国会两院控制权 The retail long-short ratio for SOL is still 3.20, while for whales it's only 1.45!
OKX perpetual 1-hour data (as of 12:00 Beijing time): The overall BTC account long-short ratio dropped from about 2.51 to about 1.51 in 24 hours, with elite traders left at about 1.07; ETH overall about 1.38, elite about 1.05. SOL is even more extreme, retail about 3.20 versus whales about 1.45 — overnight short squeeze pushed it back above 80,000, retail holders of the main coin finally took some profit, but SOL retail is still aggressively accumulating longs. Spot BTC is about $80350 (12:17 Beijing time, Coinbase). Chart source: OKX.
$BTC $ETH $SOL 🚨 Semiconductor sector takes a heavy hit! Intel plunges, AMD dives, SanDisk continues to be under pressure! I have a bold judgment: the real test for AI chips may just be beginning!
Once wildly chased by Wall Street, semiconductors are now facing consecutive sell-offs!
Last Friday, the Philadelphia Semiconductor Index plummeted about 7.2% in a single day!
Intel dropped nearly 29%, AMD fell nearly 11%, and SanDisk plunged 13.47%!
Why are semiconductor stocks suddenly crashing collectively despite strong AI demand?
The answer may lie in three signals!
🔥 First: AI investment returns are being questioned!
Microsoft, Google, and Amazon continue to pour huge funds into building data centers, but Wall Street is starting to worry: when will such massive capital expenditures actually turn into profits?
⚠️ Second: The storage chip price hike cycle is being tested!
Kioxia signals a slowdown in NAND price increases, and the market begins to worry whether the high profitability of the storage chip industry can be sustained!
💥 Third: The U.S. political landscape is changing!
With the Democrats winning both houses of Congress, the market is starting to focus on whether future AI infrastructure construction will face stricter scrutiny!
So, will semiconductors continue to hit new lows?
I believe short-term caution is still needed for further adjustments!
Focus on whether the Philadelphia Semiconductor Index can hold the previous low near 10,439 points!
If it breaks below again and continues to weaken, the downside risk may further increase To pour some cold water first, I don't take a large long position as evidence of a bullish outlook. Seeing such an order, I'm more interested in knowing what it relies on to admit a mistake, rather than imagining confidence for the wallet owner. My judgment is: this trade is worth watching, but not enough to make me change my cautious stance.
Core Trader 92 (0xd89c73…adc01) opened a long $ZEC position with 10x leverage, holding 100 coins, nominal value about $131,900, reference price $1,319. I'm stuck on two points: first, roughly calculating initial margin by dividing nominal value by leverage, about $13,190; if the price moves 5% against, the unrealized loss is about $6,595, which is half of this estimated margin, and actual liquidation depends on margin mode and other conditions. Second, monitoring only shows this long position, without full asset and hedge arrangements, so the position size can't be directly translated into directional conviction. If someone chases longs just based on this alert and increases leverage, the ones who suffer more when the price reverses might be the latecomers.
Of course, he might be right; my caution doesn't mean this trade is necessarily wrong. If the price rises later and I observe him reducing leverage and shrinking risk, I will raise my evaluation of this trade; these are my observation conditions, not facts that have already happened. I will next watch if the risk converges, and won't use others' opening positions to boost my own confidence. Recently, $SNDK, $MU, and $SKHY have collectively declined again.
I believe this drop is not an issue with any single company, but rather a cooling of sentiment across the entire storage sector.
There are several main reasons: first, the previous gains were too large, and investors started to take profits; second, Kioxia gave a relatively cautious forecast for future NAND price growth, causing the market to worry about a potential slowdown in storage price increases; third, the U.S. election results, AI data center construction expectations, and Qualcomm's weak smartphone business performance have all raised some concerns about future demand.
However, I do not think this means the long-term logic of the storage industry has ended.
AI development relies on high-bandwidth memory and large-capacity storage, and data centers still have strong demand for DRAM, HBM, and NAND. In the short term, stock prices may continue to fluctuate and even pull back further, but from a longer-term perspective, I remain optimistic about this industry.
For me, it is now more important to observe supply and demand relationships and company orders, rather than letting a few days of decline change my long-term judgment.
#美国中期选举：民主党赢得国会两院控制权 $SNDK has been falling continuously? Why isn't it going up?
Don't simply attribute it to earnings missing expectations; the real pain point is that the market is no longer willing to assign high valuations at the peak of the cycle.
Even if the current data looks good, what capital fears most is that the high profits earned now are very likely the ceiling of this storage cycle. Once the price increase benefits fade later, the gross margin will directly decline, and the stock price is already pricing in this in advance.
Adding another layer, people are starting to doubt whether AI capital expenditures can continue to explode. If big companies reduce storage purchases, the previously hyped demand story will be discounted, and the entire sector's valuation will be forced to contract.
Another crucial point is that on-chain synthetic tokens themselves amplify volatility. During U.S. stock market closures, without real market makers to support, even a relatively small sell order can cause a deep spike down, with price fluctuations far greater than the original underlying stock.
It's not that the company's fundamentals have collapsed, but that capital is unwilling to continue betting on the cycle's continuation, combined with token liquidity flaws, making the drop especially painful.
#闪迪业绩超预期并宣布拆股，股价跌逾13%
For those who bought these $SNDK spot shares, the loss is already over 50 USD, bought around the high of 1600 to 1700. With the price falling to this dog-like state, it's better to just leave it be. # Latest Updates
- The Republican Party suffered a crushing defeat in the midterm elections, with the Democratic Party regaining control of both the House and Senate. Brent crude oil plunged 8.67% below $95 to $94.62, and U.S. Treasury yields declined. Vance publicly cut ties with Trump.
- October ISM Non-Manufacturing PMI was 54.5, slightly below expectations, while ADP employment was 86,000, exceeding expectations. Service sector expansion slowed slightly but continued, with no change in the December rate hike expectations.
- Oracle canceled a roughly $7 billion AI chip leasing agreement with Tencent. The U.S. tightened restrictions on Chinese companies' overseas cloud access to advanced computing power, narrowing overseas GPU channels.
- BTC rose to $80,000, ETH at $2,439, CME Bitcoin futures premium at 0.28%. However, BTC ETFs saw net outflows of $116 million, ETH ETFs net outflows of $85 million, and USDC and USDT circulating supplies both declined month-over-month.
- Circle's Q3 revenue was $865 million, exceeding expectations, but performance was flat after excluding ARC token pre-sales, with USDC circulation remaining stable. CPN's annualized trading volume surpassed $58 billion, and the CFO will resign.
# Trading Analysis
- Conclusion remains unchanged: Blue wave suppresses oil prices and tariffs, AI sector faces regulatory headwinds.
- Democrats swept Congress, the market prices in no U.S.-Iran war and tariff obstacles, Brent crude fell below $95, yields declined, consumer sector led gains. However, fiscal discipline concerns remain—restoring healthcare tax credits increases spending, the funding bill expires on December 11, raising the risk of a government shutdown by year-end. The way Bitcoin mining companies operate is changing!⛏️
American Bitcoin, endorsed by Eric Trump, announced its Q3 results. The most noteworthy aspect is not the revenue, but the BTC reserves.
📊 Q3 data:
* BTC reserves: 8,427 coins
* Mining this quarter: 891 coins
* Revenue: $63.4 million
In the past, mining companies usually sold mined coins to cover electricity and equipment costs. Now, some miners are changing their strategy, holding $BTC as a long-term asset.
This means miners may gradually shift from being continuous sellers to long-term holders.
If more mining companies choose to hoard coins, the new selling pressure in the market may decrease accordingly.
But one point to watch: 891 coins were mined this quarter, yet reserves only grew by about 5%. How many truly remain on the books?
When looking at mining companies, it’s not just about how much they mined, but how much they kept!
#Bitcoin #BTC #OKXOrbit #CryptoGlanced at the market at lunch, the three coins are still rising, but the direction of losses is different: BTC and SOL are still suffering losses on short positions, while ETH longs are also taking hits, breaking the one million mark.
$BTC: Up nearly 5%, shorts are still taking the brunt
Current price $80,453.4, 24h up 4.91%. Long-short ratio 1.51, 4 hours ago 1.54↓. Open interest about 2.686 billion U. In the last 207 minutes, 100 liquidations: longs 88,000 U, shorts 704,000 U.
$ETH: Biggest gain, longs also taking the biggest hits
Current price $2,420.68, 24h up 7.31%, high 2,450.79. Long-short ratio 1.38, 4 hours ago 1.35↑. Open interest about 1.531 billion U. In the last 166 minutes, 100 liquidations: longs 1.113 million U, shorts 230,000 U.
$SOL: Up nearly 5%, shorts still taking hits
Current price $96.01, 24h up 4.94%. Long-short ratio 3.19, 4 hours ago 3.27↓, still the most crowded. Open interest about 332 million U. In the last 541 minutes, 100 liquidations: longs 148,000 U, shorts 672,000 U.
Commentary: ETH has risen the most, but the cost of chasing longs is also the highest, with 1.113 million U longs liquidated—the largest loss among the three coins.
Summary: All three coins rising does not mean all are easy to trade. ETH longs breaking one million—do you think there are too many chasing the highs, or is the selling pressure at 2,450 too heavy?
#Solana稳定币卡月消费额创新高 #Nonfarm is imminent, can employment data strengthen the December rate hike expectations? $BTC $ETH Nonfarm is imminent, can employment data strengthen the December rate hike expectations? The U.S. Bureau of Labor Statistics will release the October nonfarm payroll report at 21:30 Beijing time on November 6, which is the most critical employment gauge before the December FOMC. Several key market numbers to watch: 1) Consensus expectations: about 65,000 new nonfarm jobs (only 29,000 in September), unemployment rate steady at 4.2%, average hourly earnings month-over-month about +0.3%, year-over-year about 2.9%; 2) Interest rate pricing: CME FedWatch shows the market's implied probability of a 25 basis point rate hike in December is around 80%, much higher than the "rate cut" narrative; 3) If stronger: employment significantly exceeds expectations, unemployment rate declines, it will raise the probability of a December rate hike and may even cause the market to reprice the number of hikes in 2027; if significantly weaker, with a jump in unemployment, it may weaken the current rate hike pricing. The transmission to the crypto market is very direct: the dollar and U.S. Treasury yields are the pricing anchors for risk assets. Hotter employment → rising rate hike expectations → tightening liquidity expectations, BTC/ETH are more likely to come under pressure; cooler employment is the opposite. In the past 24 hours, BTC has rebounded from about 76,500 to around 80,500 USD (up about 5.4%), ETH about 2,420 USD (up about 7.9%), largely a volatility correction after the midterm elections, and has not yet fully digested the "Friday nonfarm" bomb. My view: it now feels more like "pricing is already hawkish, data will decide whether to add more" SanDisk (SNDK): A New Opportunity in AI Storage or a Cycle Top?
SanDisk has recently become a noteworthy target in the AI industry chain. My judgment is: optimistic in the long term, but do not chase the highs in the short term; wait for a pullback opportunity.
1. Why am I optimistic?
1. AI data centers continue to expand, driving growth in enterprise SSD demand.
2. NAND Flash supply and demand are improving, and rising storage prices bring profit elasticity.
3. Expansion of enterprise storage business is expected to enhance long-term profitability.
2. Where are the risks?
SanDisk's biggest risk is not the disappearance of AI demand, but a reversal in the storage industry cycle. Once NAND prices peak and industry capacity expansion increases, gross margins may decline, and stock prices could adjust in advance.
3. My entry strategy
Price observation range before the stock split:
* $950–1,000: small position testing
* $850–900: key focus
* $750–800: evaluate opportunities after a deep pullback
(SanDisk is doing an 8-for-1 split; actual operations require converting prices post-split.)
4. Final judgment
I am optimistic about the long-term development of AI storage but will not blindly chase highs just because of strong performance.
Key indicators to watch are NAND prices, enterprise SSD growth, gross margin, and stock price stabilization signals.
A good company does not mean any price is worth buying. Waiting for a margin of safety is more important than guessing the bottom.
This article is for personal investment observation only and does not constitute investment advice.
$SNDK $QQQ Calculating, $3,429,500 accounts for approximately 0.45% of the $757 million total net asset value. This net inflow is a positive signal, but I would not directly interpret it as a large-scale capital entry. According to SoSoValue data, on November 4th Eastern US time, the US ZEC spot ETF recorded a single-day total net inflow of $3,429,500, with only the Zcash ETF (ZCSH) showing net inflow that day.
① The entire $3,429,500 net inflow that day came from ZCSH. My understanding is that there is a buying focus, but it is not multiple products attracting funds simultaneously, so the performance of a single product cannot be taken as a broad market warming.
② The historical cumulative net inflow is $218 million, and the daily increment is about 1.57% of that. This indicates that the day did add to the cumulative funds, but the single-day data is not enough to prove that inflows are accelerating.
③ The total net asset value is $757 million, and the disclosed ZEC net asset ratio is 3.44%. I separate the existing scale from new funds; net asset value is not net inflow and cannot be directly treated as new buying.
My judgment is mildly positive, supporting capital sentiment but not enough to prove a trend. As someone who likes to calculate, I prefer to draw conclusions slowly and will focus more on whether net inflows can continue and whether their sources can expand going forward. Regarding CORE's banking business layout, it currently resembles multiple financial infrastructure lines progressing in parallel, and it cannot yet be stated that there are direct contracts signed with traditional large commercial banks. Related viewpoints mention that the SatPay new banking solution and institutional custody matrix might be more worth observing than mere conceptual promotion. SatPay is jointly developed by CORE and the new banking infrastructure service provider Mobilum, positioned as an online Bitcoin banking product relying on CORE. The envisioned services include deposits and withdrawals, asset custody, and on-chain yields, with business income planned to be used for CORE buybacks, thereby creating token demand. However, this plan is still in the implementation stage and has not been fully launched to the public. Whether buybacks can truly generate sustained demand depends on when the product goes live, user scale, and actual revenue. On the institutional side, materials mention that custodians such as BitGo, Fireblocks, Hex Trust, Cobo, Kiln, and Valour have completed integration. The logic is that institutions can participate in BTC dual staking within compliant custody accounts without transferring assets out of their original custody systems, which is expected to lower operational barriers for banks and asset management institutions. This is closer to a pre-channel for funds entering on-chain business and cannot be directly equated with large-scale bank fund entry. 💡 My view. CORE's current highlight is not only in technical narrative but in whether it can link SatPay, custody, and yield products into a sustainable commercial closed loop. BTC#索尼财报前瞻：游戏与音乐业务表现如何？
Market expectations: Revenue around $19.9 billion, down 5.5% year-on-year; earnings per share about $0.38, up 8.6% year-on-year.
PlayStation gaming business profit improvement, steady music business, and image sensor demand supporting profitability. However, PS5 hardware sales decline, rising storage chip costs, and the impact of the Kumamoto earthquake on sensor production.On November 4th, two consecutive signals appeared in on-chain data. The first signal: a whale withdrew a total of 303.86 BTC from Binance, worth about $23.4 million, then dispersed it into multiple wallets. Exchange withdrawals are usually interpreted as "long-term holding"—but you need to look at the second signal to understand the full story. The second signal: hackers from the Brazilian exchange Mercado Bitcoin liquidated all stolen altcoins such as PEPE, AAVE, UNI, ONDO, ENA into 7,988 ETH, about $18.19 million, concentrated in one address. One is withdrawing coins, the other is gathering ETH preparing for the next sell-off. Meanwhile, the ETH ETF has seen outflows for 23 consecutive trading days, setting a new record. A whale bought 15,216 ETH at an average price of 2,279 using 34.69 million USDC, but the ETF selling pressure is like a pump, siphoning liquidity bit by bit. On one side, whales are accumulating, on the other, ETFs are exiting, and hackers are stockpiling ammunition. These three forces intertwine, causing the price to neither rise nor fall, repeatedly wearing down your stop-loss in the middle. Above, ETH 2347 has $477 million in short liquidation; below, 2143 is a long position minefield. Until one direction is triggered, all fluctuations in between are just market makers collecting tolls. It's not that there are no opportunities, the opportunity just hasn't come to fire yet. The recent market conditions have provided a solid lesson in position management, with many traders attempting to bottom-fish suffering losses. Some traders shorted SNDK ($SNDK) around the 1150 price level; the price dropped to 1108 but they were stopped out near 1130, and the subsequent rebound caused additional losses. Similarly, bottom-fishing SKHYNIX ($SKHYNIX) initially resulted in a $10 loss before the shorts recovered their gains. The price action of STRK ($STRK) also confirms this pattern: after holding overnight, the price fell from 0.044 to 0.041, and traders gradually reduced their positions during the decline. Even with smaller positions, losses remained significant. The difficulty this time is not in predicting direction but in the market’s path exceeding expectations. Exiting in batches reduces exposure, but the remaining bottom positions easily become emotional anchors. Whether in stocks or tokens, the current market punishes blind bottom-fishing capital. After multiple failed attempts, capital tends to shift to shorting on rallies. However, this itself is a contrarian signal: heavy short interest in assets like SNDK and SKHYNIX can easily trigger intense short squeezes, as seen in the rapid rebound from 1108 to 1130. Traders of STRK should note that thinning liquidity will amplify the volatility of declines and rebounds. There is also a crucial psychological difference here: being trapped in a bottom-fish position can cause stagnation, while profiting from shorts brings confidence, yet both types of trades fundamentally bet on a market turning point, which the market has not yet confirmed.$BTC has been moving sideways between 80,250 and 80,920 since 8 AM this morning, currently around 80,470, with a 24h gain of +4.7%. After last night's squeeze, there has been no clear direction.
Glassnode estimates the US spot ETF's holding cost at around 81,500, right overhead, while Farside data shows a net outflow of about $1.16 billion from ETFs over the three trading days from 10/30 to 11/3.
$ETH is stronger than BTC, up +7% in 24h, currently at 2,420. According to MMTC's estimate based on Binance futures data, the liquidation zone for short positions is just above 2,456, less than 2% away from the current price, mainly at 50x leverage.
OKX perpetual rates are BTC 0.01%, ETH 0.0045%, not very hot, and leverage hasn't been rebuilt yet.
My view is that ETH is more likely to first sweep 2,456 than BTC to directly break above 81,500. BTC still needs to wait for tonight's ETF flow data.Listing on a national-level exchange, don't rush to treat it as a positive catalyst.
Moscow Exchange announced it will launch BTC, ETH, and USDT trading on December 1. The report states that this is a key move for Russia to build local crypto infrastructure amid escalating Western sanctions, meaning a national-level platform with a large retail and institutional base is beginning to provide compliant trading access for mainstream coins.
For traders, the practical significance is that after the ruble-crypto channel gradually opens, the inflow and outflow of Russian funds will be smoother. But the official launch is on December 1, and currently it is more about expectations driving the market; such news is prone to being front-run before it materializes.
Scenario one to observe: trading volume and depth amplify on the first day of listing, with pullbacks supported, possibly extending narrative premiums. Scenario two to observe: launch timing or compliance details fluctuate, causing early premiums to quickly retract.
Are you more focused on the first-day trading volume or the strength of support during pullbacks?
Source: BlockBeatsTo pour some cold water first, putting stocks on the blockchain does not mean the issuers are willing to cooperate. The latest announcement from OKXICE shows that Nebius, Boeing, and ServiceNow have joined the opposition list, bringing the number of objecting issuers to 62. My judgment is bearish, targeting the sentiment premium in the stock token sector, not a bearish view on the entire crypto market.
I am stuck on two points: first, issuers raising objections indicates a gap between trading demand and issuer attitude. If this divergence affects product arrangements, then the previously expected expansion speed by the market may be overestimated. Second, "being tradable" and "what rights holders have" are two different things. The materials do not specify the exact rights structure, and I will not assume it is "equivalent to stock ownership." If users only focus on the stock name without looking at redemption and rights boundaries, convenience can easily be misinterpreted as security.
But I also admit that the bullish side might be right: objections do not mean trading will stop immediately, and the number 62 itself cannot prove the model is unworkable. If subsequent disclosures clearly explain the rights arrangements and resolve issuer disagreements, I will retract some of my caution. Don’t get excited too quickly, and don’t sentence it to death based only on the list. Facing this expansion of the opposition list, are you bullish or bearish? Share your reasons: do you value trading demand more, or the issuer’s attitude?$APP is not a coin, it is the AppLovin US stock contract, earnings night triggered a short squeeze.
News: Q3 earnings after market on 11/4, revenue 2.185 billion, +55% beating expectations, Q4 guidance 2.37-2.4 billion higher than expected, buyback increased to 3.6 billion.
Fundamentals: A large cap with a market value of 90.9 billion that has dropped 59% this year, peaked at 61.4 billion in June, expectations have been crushed to the floor.
Trend + capital: After bottoming at 225.61 on 10/31, sideways for four days; last night spot price rose 10.7% intraday to close at 271.75, after-hours earnings released, contract surged to 343.77 in a single hour at 05:00, current price 325. Open interest doubled to 1.54 million, fee rate -0.78%, shorts paying the price.
Sector: Advertising peers $TTD +2.9%, $U +4.9% only small followers, the main player is itself.
Forecast: 50% chance spot opens high tonight holding 320-340 but volatile; 30% chance stabilizes above 340 to surge 360-380; 20% chance opens high then falls back below 300.
Attitude: Long positions hold 310, new money waits for tonight’s spot opening price, don’t chase the shadow price. It's over, it's over, I was completely wrong before. I thought this guy was going to blow up in the morning, but by evening he already had an unrealized profit of over 4 million 😂
An address opened about $101 million long positions on-chain contract trading, spread across BTC, ETH, HYPE, and ZEC. The BTC position was leveraged 30x, ETH 15x, and HYPE and ZEC each 10x.
On the morning of November 4th, when the market was smashed, the account was already showing an unrealized loss of about $1.725 million. The BTC position was only about $398 away from liquidation price, and HYPE was even worse, only about $6.58 left. If it dropped again, this over $100 million position would have been liquidated in a chain reaction.
But the market reversed on the same day. By evening, this address had turned the loss into profit, with an unrealized gain of about $4.058 million. BTC contributed about $1.754 million, and ZEC about $1.245 million. The profit and loss swung over $5.78 million within one day.
Watching this made me sweat for him. Surviving such a position is a story, but failing would have made him a joke across the entire network.
For beginners, it's recommended to watch more and trade less; when buying coins, only buy $BTC $BTC Why have hackers been unable to access Satoshi Nakamoto's Bitcoin until now?
It is estimated that 1,096,000 BTC, valued at $84.78 billion (based on the stated valuation), have remained untouched for nearly 17 years.
The reasons are as follows.
1. There is no single master password.
Satoshi Nakamoto's Bitcoin is estimated to be distributed across about 21,900 independent private keys.
Most modern Bitcoin wallets use a 12-word recovery phrase that can restore access to multiple addresses.
But in 2009, such a system did not exist.
The earliest Bitcoin 0.1 client generated independent private keys for mining rewards.
Each early block rewarded miners with 50 BTC.
This means that the estimated 1,096,000 BTC of Satoshi Nakamoto may be spread across thousands of unrelated private keys.
Even if hackers or AI manage to crack one private key, it does not automatically reveal the others.
They might only gain access to 50 BTC, while the rest of the private keys remain protected.
And this is exactly why Satoshi Nakamoto's Bitcoin is so difficult to steal.
But here is a bigger question:
Will quantum computing eventually change everything?Hot take from an AI PM:
Everyone's waiting for the Anthropic IPO to "unlock" crypto liquidity.
But the real unlock isn't capital rotating into AI tokens.
It's AI agents that need to pay for stuff, and can't open a bank account.
Stablecoins are their only wallet. 🤖💸
#Anthropic：IPO新进展，招股书拟9月公开 $BTC Pugo started selling off right after losing the electionThis round of oil prices has come down. If it can help ease inflation pressure later, the probability of a rate hike in December might also decrease.
Looking at Bitcoin, the short liquidity around 80,000 has already been swept once. Considering the current context, a pullback is inevitable, but I think it's quite difficult to drop back to 75k.
Once the vehicle starts moving, to turn around, don't you have to slow down first? Saying the market has already turned and is about to dive immediately seems rather difficult to me.
But if there really is a pullback in the next couple of days, I will pay more attention to altcoins. Ethereum has already skyrocketed, so I won't focus on it for now.
SOL is what I think has a chance to rise this weekend, so if there is a pullback these days, I will pay more attention to SOL.
Whether spot or low-leverage, [around SOL 90 is a position I think is pretty good.]Bitcoin and Ethereum
Both are currently in a "bearish exhaustion rebound" phase: the two biggest uncertainties—Binance hack and midterm elections—have both materialized within four days, extreme fear has washed out the chips, and then short sellers covered their positions, pushing the price up. The chart indeed shows a bottoming structure forming, but what determines whether this is a "bear market rebound" or a "new upward cycle" is not the price but liquidity—currently, the central bank's balance sheet has not turned around, stablecoins shrank by $7.5 billion in October, the Treasury account needs to be replenished by $150 billion before March 2027 (which is a drain), and ETFs are still experiencing net outflows. None of these indicators have improved.
Two critical verification points to watch:
November 6 (Friday) U.S. October Nonfarm Payrolls — if the data is weak, easing expectations will rise and the rebound can continue; if the data is strong, the 75,000 pullback will become a reality again. On the options market, the put contracts with a strike price of 74,000 have the highest volume, indicating that some are buying insurance for a second leg down.
Whether the CLARITY Act can advance before the new Congress in January — after the Democrats took both chambers, if this stalled market structure bill does not pass, it will have to start over, which is a policy variable hanging over the industry.
In terms of relative strength, BTC's structure is clearly healthier than ETH's (ETF demand still exists, accounting for 60%); ETH is the more volatile one, rising sharply but also falling sharply, with stronger evidence of institutional fund withdrawal.$FIL's real network-wide daily storage revenue is only 4 yuan.
Valued at tens of billions of dollars, but nodes and miners have to pay all electricity and hardware costs in fiat every day.
The mined coins have no actual business buy-side support, so they can only be dumped into the market for liquidation.
The busier the business runs, the heavier the selling pressure to dump.
Buying in now to catch the bottom is purely self-funding to sponsor the data centers' electricity bills.
#FIL
$FIL
👇#BTC进入摩根大通长期预测，机构配置仍谨慎# This sentiment also suppresses altcoin targets, and $SNDK is unlikely to attract incremental funds in the short term. I maintain a bearish view on it. On the four-hour chart, after falling from the 1148.7 level, the focus continues to shift downward. Currently, 1010.8 is close to the intraday low of 990.8, a 28.59% retracement from the four-hour high. The trading volume of 169.4 million shows real selling pressure released; the funding rate remains positive at 0.0490%, indicating crowded longs not yet cleared. The top 10 bid-ask ratio of 1.18 shows a slight buyer advantage, more like passive catching after overselling rather than a reversal. Strategically, a light short position can be tried on a rebound near 1035.6, with a stop loss at 1062.3 and a target at 965.4; if it directly probes 982.5 and stabilizes on low volume, a short-term rebound to 1018.7 can be speculated, with a stop loss at 970.2. Single position size should not exceed 10% and strictly include stop loss.
——This is only a personal opinion and does not constitute investment advice. Wish you successful trading.——
$SNDK#BTC进入摩根大通长期预测，机构配置仍谨慎
#BTC进入摩根大通长期预测，机构配置仍谨慎
$SNDK 🔎 What should be verified to determine if a Web3 project is transparent?
Don't just rely on promotions; it is recommended to approach from seven dimensions:
1. Project identity and contract address;
2. Open-source code and actual deployment;
3. Administrator permissions and constraints;
4. Scope and version of security audits;
5. Implemented features and actual progress;
6. Accuracy of public information;
7. Whether community issues receive verifiable responses.
For ONEA, we should apply the same standards: distinguish facts, work in progress, and future plans, without replacing evidence with unverified claims.
Transparency is not about asking users to trust, but enabling users to independently judge under proper conditions.
Next article: Why can traders still get liquidated even when the direction is correct?As CoreDAO retail investors continue to exit, market confidence in @Coredao_Org also seems to be steadily declining.
After OKX $CORE deposits and withdrawals resume, will there be a new round of sell-off?🤔3.66 billion USD less than yesterday, I first consider the worst-case scenario: if stablecoin contraction is accompanied by a decline in trading depth, those rushing to exit may have to bear additional slippage. In DefiLlama's data this time, the total weekly amount of USD stablecoins across the network is also shrinking, with both USDT and USDC decreasing.
⚠️ I am more concerned about trading conditions rather than directly judging this as negative for coin prices. There are two layers of risk: changes in circulation volume do not equal changes in exchange-available buy orders, so directly using this to judge price movements can easily lead to misjudgment; if the contraction continues and transmits to the order book, then the originally seemingly sufficient stop-loss space may actually be insufficient when executed. This is my risk analysis, not a result that has already occurred.
After doing risk control, I am used to first calculating how much loss I can bear before looking at how attractive the opportunity is. A reminder for ordinary people: when calculating single-trade risk, also reserve fees and possible slippage, and do not treat the stop-loss price as a guaranteed execution price.The sharp dip in the early session caught my attention and left me stunned; 76,000 was decisively broken, and I was sweating for my position. But the real question is, what exactly is this wave of selling pricing in? The rhythm described in that Vietnamese post is all too familiar to me: expectations of a Democratic victory heat up, the Nasdaq opens down 2%, BTC and ETH bleed along, BTC briefly falls below 76,000, with 75,000 looming just ahead. Then the script suddenly flips, and the price sharply rebounds. That moment wasn’t about a fundamental change; it was a reverse repricing after short sellers were squeezed to the limit. What I focus on when watching the market isn’t the rebound itself, but the silence before it when "no one dares to add positions." Big money can’t handle the volatility, the author himself dares not add, Solx and Koru take a little profit and run—this collective pause often appears at the end of panic, not at the start of a rally. So right now, it looks more like a phase of divergence, not a clean start, and far from a composed distribution. On the bullish side: bad news has been priced in early, the Nasdaq’s sell-off failed to crush BTC, indicating real support below; once stock market sentiment recovers, suppressed risk appetite will flow back first to BTC and ETH, then gradually spill over to high-beta altcoins. On the bearish side: this is just an event-driven sharp drop and rebound; if macro expectations sour again, the stop-loss cluster below 76,000 remains, so a second dip is not surprising. The bottom is only clear in hindsight; for now, all we can do is admit we don’t see everything and control our pace. Don’t mistake the rebound for confirmation. Not investment advice. #美国中期选举：民主党赢得国会两院控制权
The South Korean index triggered a circuit breaker again in early trading; what is the market trading?
Today in South Korea, the market almost collapsed in the morning. KOSPI dropped as much as -5.2% intraday to 5386 points, triggering a SIDECAR circuit breaker. SK Hynix fell as much as -9%, Samsung -7%.
The trigger was the Democratic Party sweeping the midterm elections, Texas turning blue, and expectations of tighter data center approvals breaking the AI hardware logic. Foreign investors sold a net 2.5 trillion KRW throughout the day, exiting decisively.
Goldman Sachs directly recommended "long cloud providers, short semiconductors" today, with straightforward logic: data center approvals are stuck, computing power becomes scarce, cloud providers can raise prices, reduce capital expenditure, and buy back shares, but chip order expectations are discounted.
In trading, the rebound in AI hardware is a signal to reduce positions, not to add.
Before regulatory risks materialize, every rebound in semiconductors is a window for selling pressure release; don't use "oversold" as a buying reason. Internet software can be considered, but don't treat it as a whole: Kakao rose over 9% today due to earnings and a 150 billion KRW buyback, which is the company's own money speaking, not sector beta; Naver, which moves with the index, has limited elasticity.
AI hardware recovery is about liquidity, while internet software recovery is about individual stock logic. Manage your positions well, don't bet on a reversal in semiconductors, and pick software stocks with real cash actions.Ethereum's upgrade roadmap through 2029 has been clarified today
About 7 hard forks scheduled all the way to the end of 2029, with consensus, execution, and data layers all replaced, but old applications don't need to be rewritten
Glamsterdam leads, Hegota is the last fork before the full upgrade, and the final L fork to truly wrap up will be at the end of 2029
The new layered fees are expected to drop by more than 10 times, but this is only an estimate, not a network-wide guarantee, and only applies to the new layers, not all transactions
Each of the seven forks is small, but every step counts; this is how a major protocol overhaul should proceed
#Ethereum #LeanEthereum #Glamsterdam Last night the election results came in, and the market played a game of "buy the rumor, sell the fact." Overnight, US stock futures plunged, and Bitcoin followed with a low spike down to 75,700; during the day, US stocks turned positive, and the crypto market pulled back above 80,000. Everyone needs to understand that this rally is purely an emotional recovery from the "result landing" and does not mean crypto policies have improved.
On the macro front, don't be blindly optimistic: although the Democrats took both chambers, Trump has veto power, resulting in a "divided government," so major moves can't be pushed through.
The biggest risk this week is Friday's non-farm payrolls. If the data is hot, the expectation for a December rate hike solidifies, the dollar rebounds, and crypto gains will be immediately wiped out; even if the data is cold and the dollar weakens briefly, it won't change the reality that "rate hikes are still ongoing." Additionally, if the Middle East causes turmoil leading to a spike in oil prices, inflation won't be contained, and the Fed will only become more hawkish, which is directly bearish for crypto.
$BTC $ETH There's something I can't quite figure out.
Mining companies are selling coins, while traders are still waiting for the big bull market after the halving.
MARA transferred out 1,650 bitcoins in 12 hours, worth $132.8 million, with the recipients being institutional platforms like Galaxy Digital and Copper. They have mining rigs and electricity bills, so they know exactly where the cost line is.
We are here watching the K-line charts and drawing lines, while they make decisions based on cash flow. It's clear who really understands this industry.$CL Crude oil just dropped back to $95, but Northstar once again reiterated: it could still rise to $200, even above $300 in the future! What exactly has this analyst seen?
After carefully studying his latest monthly chart, I think there is a very noteworthy logic: short-term pullback and long-term bullishness are not contradictory! Crude oil has already broken through a multi-year downtrend line, but it is still suppressed by a long-term resistance zone above. In the short term, it may continue to fluctuate, or even retest the $74–$69 support zone.
The real test is whether it can effectively break through the historical resistance band of $110–$140 in the future, thereby opening up a larger upside space. However, I remain cautious about the $200–$300 target. If the global economy continues to grow slowly, is such a high energy price driven by a supply shortage new bull market, or will it ultimately cause a stagflation crisis that destroys demand?
Technical charts can predict price breakouts, but they cannot guarantee that the economy can bear the cost after the breakout!An on-chain transfer clearly illustrates the miner's situation: MARA Holdings moved 1,650 bitcoins in the past 12 hours, worth $132.8 million at the time.
What’s notable isn’t the amount, but the recipients. Galaxy Digital acts as a market maker and institutional service provider, while Copper is a custody and settlement platform. When mining companies hand over coins to these two types of institutions, it’s usually not for "long-term holding," but to find buyers off-exchange, secure collateralized financing, or simply convert to cash to pay electricity bills.
Breaking it down, 1,650 coins in MARA’s holdings isn’t a liquidation-level amount, but the pace within 12 hours is urgent. Miners’ fund management always prioritizes cash flow more than retail investors; they sell some to lock in profits when prices are good, and sell some to maintain operations when prices are weak—both scenarios can trigger sales. So, simply assuming that "transferring to exchanges" means a dump oversimplifies a complex issue; but treating it as completely irrelevant noise is equally risky.
The real signal will come in the following days: whether these coins are slowly absorbed off-exchange or quickly appear on the spot market. The former indicates liquidity preparation; the latter signals genuine selling pressure.
The miners’ ledger always leads the candlestick chart by half a step. The current question is whether this time they are locking in profits or fighting for survival.$XAUT
One token corresponds to one 400-ounce gold bar. According to the gold token pegging standard announced in Hong Kong today, at the current price of 4120, one token is worth 1.65 million USD.
This is not for retail investors. The project is under the Hong Kong Monetary Authority's Ensemble, designed for interbank settlement, priced using the HAU reference price newly introduced by Hong Kong this year, and also requires tokenized deposits. Previously, retail gold tokens were a few grams each; HSBC's was only 0.001 ounces per token. This time, the Hong Kong government uses a whole gold bar as the unit.
At the same time, gold on exchanges follows a different system. XAUT opened at 3932 and rose to 4125, up 5%, with OKX daily turnover of 26.5 million USD; PAXG only 1.83 million, for the same one ounce, quoted at 4134.8, 15 USD more expensive than XAUT, a 0.37% difference. The order book is still thin, with ±1% bids at 98,000 and asks at 59,000.
The premium difference for the same asset is not about the gold itself, but whose market is thinner.
Institutions are fixing the pipelines. Our prices are just the quotes outside the pipeline.
#非农在即，就业数据能否强化12月加息预期？ $BTC Midterm elections concluded: Democrats regained control of both chambers, Trump lost for the first time.
The probability of a Fed rate hike in December surged to 79.2%, the market is pricing in a "Blue Wave + tightening" scenario.
Key data:
• BTC: Fell below 76,000 before the election → V-shaped rebound to 77,800, 70% priced in
• USD: G10 currencies broadly weakened
• Gold: Breakthrough 4000 logic confirmed
• Long-term US Treasuries: Fiscal deadlock expectations suppress yields
Market segment analysis:
US stocks → Tech high-beta stocks sold off first, defensive sectors took over, volatility increased
Crypto → CLARITY shelved, regulatory headwinds, but BTC's support level remains stable
Macro → Short end tight, long end loose, USD weak, gold strong
Personal view:
This is not a crash, but a re-pricing. Political division reduces systemic risk, rate hikes suppress inflation rather than rescue recession. History rhymes: post-election dip to build a bottom → December FOMC sets direction → 2027 Q1 all bad news priced in and recovery begins$BTC Just now, the 15-minute Bollinger Bands upper and lower bands were very close. The gap between the two bands has fallen to a recent low. The price hasn't expanded its amplitude for more than two consecutive hours. The candlesticks have been moving narrowly within the channel below 81,000.
The 5-minute Bollinger Bands are also very tight. The price has fallen below the 5-minute middle band. The latest 15-minute candlestick's trading volume has halved. Bulls and bears are grinding back and forth in such a narrow space, which is a bit unexpected. Market volatility has been compressed to the extreme, and a direction will be chosen soon.
Zooming out to the 4-hour chart, the 4-hour Bollinger Bands are opening upward, and the candlesticks are moving along the upper band. However, the 4-hour EMA moving averages maintain a bearish sequence from top to bottom. If the current price moves up a few more steps, it will reach the daily resistance near 81,000. The major cycle resistance point is right above.
Personally, I am bearish. The strong daily resistance is right overhead, and the 4-hour moving average structure hasn't turned bullish. The bulls lack volume to chew through the sell orders above, so the trend is expected to first pull back to find support.
$ETH $SOL #BTC进入摩根大通长期预测，机构配置仍谨慎 $SNDK
At six in the morning, I wrote that this coin was grinding between 1030 and 1050 for six hours, with volume shrinking to just over 6,000 contracts, saying the pipe was connected but no water came. Now it looks like the water has come, and the direction is downward.
The SNDK token opened at 1067 and dropped to 1013, with an intraday low of 990.8. The current price is about 12% below the 24-hour high of 1148.7. At 09:00, the 1H candle released 101,000 contracts, fifteen times the 6,630 contracts at 06:00, and the price easily broke through the previous platform. The only time volume expanded again today was in this direction.
Those holding on have not left. Positions stand at 137,800 contracts worth 140 million, exactly the same as at 3 a.m.; the fee rate is 0.0487%, 4.8 times the benchmark of 0.01%, with longs paying premiums every eight hours. New price lows, unchanged positions, and willingness to pay premiums—this is not panic selling, it’s refusal to give up.
On the other hand, the news is not good either. The list of objections from the issuer of OKXICE has reached 62 companies today, including Nebius, Boeing, and ServiceNow, compared to only 16 in the announcement on October 19.
The regulatory foundation is shrinking, while longs in the contract are still paying premiums to hold. Putting these two things together, I can’t find a bullish reason for it.
#非农在即，就业数据能否强化12月加息预期？ 📌 ONEA community additional Q&A: 8 questions about on-chain restrictions and asset security.
If you hold the private key, why might you still be unable to transfer?
Does a failed transaction mean you have been blacklisted?
What exactly do whitelist, pause function, and upgradable contracts mean?
Does open-source code equal security?
How should ordinary users verify projects, check permissions, and reduce operational risks?
These questions cannot be answered by guesswork alone. We need to combine contract code, current status, permission settings, and on-chain records to distinguish verified facts from issues still to be confirmed. For ONEA, judgments about actual progress should also be based on verifiable information, not treating future plans as already implemented features.
Long-term trust comes from continuous evidence, not from demanding unconditional belief from others.
The next article will continue the discussion: Why can traders still get liquidated even when the direction is right?
#ONEA #Web3 #Blockchain