SanDisk, earning $10 billion per quarter, should have a market cap of at least $100 billion, putting its P/E at just 2.5.
This A-share Zhonghan needs to rise 10% to break even.

Where Do DeFi’s High Yields Come From? Understanding the Source of Returns Matters More Than Chasing Numbers

In the DeFi world, you may see certain liquidity pools, lending protocols, or yield strategies offering relatively high annualized returns.

But there is one question worth asking first:

Who exactly is paying these returns? And through what mechanism are they generated?

If you cannot explain where the returns come from, it is difficult to judge whether they are sustainable.

I. Lending interest: Returns come from borrowers’ cost of funds

In decentralized lending protocols, users can

Tong Ge's BTC outlook for 11.11
$BTC Short entry around 738-743, stop loss at 748, targets at 730-725-720.

The 73333 level held for several days, but last night it was finally smashed through, with the price dropping straight to a low of 72691.
Now the price has rebounded to around 738. Are some people thinking the opportunity is back?
Wake up! Don't rush to call a rebound after a support break a reversal. The former support level should first be watched to see whether it can turn into resistance.
This is what Tong Ge calls a breakdown retest.
Bulls defended 733 for several days; now that it'

#美国10月CPI全面超预期 #每周来晒 The Fed doesn’t need to “turn hawkish”; it only needs to maintain a hawkish stance.

I. There are three levels to “turning hawkish,” and the market has only priced in the first
First level: a 25-basis-point hike in December. The probability is 88.5%, already fully priced in. This isn’t turning hawkish; it’s confirmation.
Second level: a one-off 50-basis-point hike in December. The probability jumped from 0% before the release to 11.5%. This is a real “hawkish turn,” and it’s also the line Waller drew himself just hours before the data: a core monthly increase of 0.3% or hi

November 11 | BTC Plan for Today
BTC fell on heavy volume yesterday, hitting a low of 72691 before rebounding. It is now fluctuating around 73500.

But this rebound does not yet mean the market has reversed. After several consecutive stop-outs on long trades recently, I won’t rush into longs today. The focus remains on shorting the rebound.

Key levels to watch today:
- 73900—74400: Shorting zone on a rebound
- Stop-loss: 75000
- First target: 73500
- Second target: 73000
- Extended target: around 72200
If the price rebounds to the resistance zone but cannot hold above it, consider shorting.

What Is Rolling Backtesting? How Can Continuously Updating the Training Window Test Whether a Strategy Can Adapt to Different Market Phases?

In the cryptocurrency market, conditions move through uptrends, downtrends, and sideways periods, and the same strategy may not always work. Rolling backtesting repeatedly validates a strategy across multiple time periods by moving the training and testing windows forward, helping traders determine whether it is robust rather than merely performing well during one stretch of historical market conditions.

First, what is rolling backtesting?

Rolling back

Why Do Some Tokens Have High Trading Volume but Their Prices Still Fail to Rise?

In the cryptocurrency market, a confusing phenomenon sometimes occurs:

Trading volume keeps growing and market discussion gets increasingly heated, but the token price continues to fluctuate within a range.

Many people assume that rising trading volume means money is flowing in and the price will soon break out.

But that is not always the case.

Trading volume reflects trading activity, while price movements depend on how buyers and sellers transact and whether the market can continuously absorb selling supply

What Is the Long-Short Position Ratio? Why Can Prices Suddenly Fall When Most of the Market Is Bullish?
In crypto derivatives markets, one data point worth watching closely is the long-short position ratio. It can help traders gauge market participants’ directional bias, but sometimes the more people in the market are bullish, the more likely prices are to see a sharp pullback.
First, what is the long-short position ratio?
Simply put, it reflects the relative proportions of long and short positions in the market. For example, a long-short ratio of 2:1 means that, according to the data, there a

Cross-chain transfers are not simply about moving coins: 4 questions to understand before transferring

In the Web3 world, cross-chain technology connects assets and applications on different blockchains. But that doesn’t mean assets can move freely between networks without risk.

A cross-chain operation may involve locking and minting, burning and releasing, liquidity pools, or other cross-chain message verification mechanisms. Different mechanisms come with different trust assumptions and risks.

If you’re preparing to make a cross-chain transfer, it’s worth understanding these four things f

Does a Breakout Above Resistance Mean the Market Is About to Take Off?

In cryptocurrency trading, many people have experienced this:

The price finally breaks through a key resistance level, and trading volume also increases. Traders think the market is about to take off and jump in, only for the price to suddenly reverse and fall back into its previous range.

This is what traders often call a “false breakout.”

What really needs to be determined is not just whether the price has broken through, but whether the market can continue to accept higher prices afterward.

I. What Is a False Breako

$INIT Up nearly 40% in a day, with $1.37 billion in trading volume—this figure is more worth watching than the price. The Fear and Greed Index is currently at 78 (Greed), and the funding rate is +0.038%, at the 90th percentile of the past 30 days. The last time the funding rate reached this level was May 14; the price then pulled back 22% within 48 hours.
The 24-hour range is 0.1832 to 0.3030, a 65% swing—typical of a setup where both longs and shorts get liquidated. I checked the on-chain data: the concentration of holdings among the top 10 addresses actually fell 2.3%, suggesting that major

What’s the Difference Between Isolated and Cross Margin? Which Margin Mode Is Better for Managing Risk?

In crypto futures trading, isolated and cross margin are two common margin modes. Many traders focus only on leverage and overlook how margin mode affects account risk. Even with the same leverage, different margin modes can result in completely different risk exposure.

The core of isolated margin is to manage the margin for a particular position relatively independently. When that position incurs a loss, the risk is generally concentrated within the margin allocated to it. Traders can mor

What Is the Bid-Ask Spread? Why Can Seemingly Small Spreads Have a Persistent Impact on High-Frequency Trading and Frequent Entries and Exits?

In crypto trading, many people focus only on price movements and overlook the spread between buying and selling. Even when the market price does not change significantly, traders may incur actual costs from the bid-ask spread and fees. The more trades they make, the more important these costs become.

First, what is the bid-ask spread?

The bid-ask spread is the difference between the current lowest ask and highest bid. For example, if the highest bid

What is stress testing? When the market suddenly crashes, liquidity dries up, or slippage widens, how can you test whether a trading strategy can withstand extreme market conditions?

In crypto trading, even a strategy that performs well under normal market conditions may suffer severe losses during a sudden crash, a sharp drop in trading volume, or extreme price volatility. Stress testing proactively simulates adverse market conditions and examines a strategy’s drawdown, consecutive losses, and risk exposure to identify problems that regular backtesting may not reveal.

First, what does stres

PIEVERSE plunged from 2.15 to 1.68 in one day, down 22% from its peak. $PIEVERSE Futures are bearish. At 01:00 yesterday, I said it was bullish and set my stop-loss at 1.99—but today's price broke below that level and fell all the way to 1.81. I was wrong on this trade; the direction is the opposite. It surged 47% at one point yesterday, and today has given back all those gains. It's still up 57% over 7 days, so the pullback may not be over; the current price is just one step above today's low of 1.68, and the rebound hasn't even touched 1.99. Key levels: current price 1.81, take-profit at 1.

What is stress testing? When the market suddenly crashes, liquidity dries up, or slippage widens, how can you test whether a trading strategy can withstand extreme market conditions?

In crypto trading, even a strategy that performs well under normal market conditions may suffer severe losses during a sudden crash, a sharp drop in trading volume, or extreme price volatility. Stress testing proactively simulates adverse market conditions to assess a strategy’s drawdown, consecutive losses, and risk exposure, helping identify problems that routine backtesting may not reveal.

First, what does st

Hot take 🔥
The 18th and 19th are about to be unified.