Crypto KOL Community & Market Trends

Unitree Technology officially launched on the STAR Market today, surging more than 500% at the opening and surpassing a market capitalization of RMB 350 billion. The prospectus shows that Wang Xingxing directly holds a 21.44% stake and, before the offering, indirectly held an additional 9.54% through an equity incentive platform, bringing his total stake to approximately 30%. Based on the current market capitalization, his Unitree shares are now worth more than RMB 100 billion. Overnight, Wang Xingxing became the richest person born in the 1990s.

Ah 🫪🫪

Although Bitcoin put on a show against the trend last night, it still failed to break out.

The Fed has a $4.243B Treasury bill purchase scheduled today.
Worth watching, but I wouldn’t call it an instant “bullish” signal by itself.
More liquidity can support risk assets, but what matters is whether that liquidity actually reaches markets.
For crypto, I’m watching $BTC reaction first.

Latest Weekly Report | This Week’s Updates Are Quite Substantial

Let’s briefly talk about our actual progress this week. Quite a few changes may bring more convenience to everyday use.

Last week, the Android app officially launched, and we also added the practical “Recharge for Others” feature, giving the community another convenient way to use the service.

Nothing makes me feel poorer than a 0% loan I didn't take. Zero interest, no liquidations, no health‑factor anxiety attacks at 3 a.m. and my BENJI keeps earning while it's locked; the BB price also does not affect my position as well? Where was this when I was paying 40% APR

On August 18, Ripple announced that Jeonbuk Bank had become the first regional bank in South Korea to deploy Ripple Payments.

On the same day, XRP fell below $1.

Good news and a bad price happened at the same time.

This is not a coincidence. This is the market voting with its feet.

First, the “obvious bullish news”—it certainly looks good.

Founded in 1969, Jeonbuk Bank is a subsidiary of JB Financial Group and the leading lending institution in its province.

What is it going to do? Replace SWIFT with Ripple Payments.

Previously, cross-border remittances via SWIFT took days. Now, Ripple Payments takes seconds to minutes and operates 7×24 hours.

Who are the target customers? Import and export companies, IT startups, and online content creators.

Ripple Asia-Pacific Managing Director Fiona Murray said: “This collaboration reflects the growing momentum we are seeing in South Korea’s institutional financial sector.”

This is Ripple’s third institutional partnership in South Korea this year.

It had previously partnered with KBank (digital asset custody and wallet infrastructure) and Kyobo Life Insurance (tokenized government bond settlement).

South Korea’s three leading financial institutions have all been secured within six months.

Ripple’s penetration into South Korea’s banking infrastructure is visibly expanding.

But the “hidden bearish factor” is the key.

There is only one core question: What currency will Jeonbuk Bank actually use for cross-border settlement?

In Ripple’s official announcement, the description was “stablecoin cross-border settlement.” CoinDesk directly asked Ripple whether Jeonbuk Bank’s fund flows would use XRP.

Ripple did not respond.

Multiple reports pointed out that Jeonbuk Bank’s transactions did not use the XRP cryptocurrency.

KBank’s pilot used stablecoin-based settlement rather than XRP as a bridge asset.

Over the past year, Ripple has been promoting the RLUSD stablecoin as an institutional settlement asset.

Every transaction has been confirmed to use Ripple’s infrastructure, but not a single one has been confirmed to use XRP.

Do you see it now?

Ripple is winning. But XRP may not be.

Ripple’s institutional partnerships are a “company-level victory,” while XRP’s price is a “token-level battle.”

These two things could once be equated—Ripple gains customers = XRP rises.

But not anymore.

Ripple is using the RLUSD stablecoin and fiat channels to handle an increasing share of settlement volume. Demand for XRP as a bridge asset is being bypassed.

The data does not lie.

DefiLlama data shows that only 0.16% of DEX transactions on XRPL over the past 72 hours used XRP as a bridge asset.

The network is expanding, transactions are growing, and AI agents have completed 2 million payments on XRPL.

But XRP has not benefited.

On August 19, XRP was trading at $0.99, testing the $1 level for the ninth consecutive trading day.

That is down approximately 73% from its July 2025 high of $3.65.

At the beginning of the year, Standard Chartered slashed its 2026 price target for XRP from $8 to $2.80.

This is not FUD. This is fact.

Ripple’s banking partnership model is evolving—from “settlement using XRP” to “settlement using Ripple’s infrastructure; the currency is another matter.”

For Ripple, this is a good thing. It is more flexible and compliant, and banks are more willing to adopt it.

But for XRP holders, it is a nightmare.

Because XRP’s only value narrative is adoption.

If what gets adopted is Ripple’s technology rather than the XRP token, what remains of XRP’s valuation logic?

One painful final point:

Ripple can succeed without XRP.

But XRP cannot rise without Ripple adoption.

Jeonbuk Bank is Ripple’s Nth customer, but not necessarily XRP’s Nth buyer.

South Korea’s Digital Asset Basic Act is being finalized and is expected to classify stablecoins as payment instruments.

RLUSD has already processed $2.5 billion in transaction volume on the XRP Ledger.

What is XRP doing? Struggling below $1.#Gate事件积分系统上线 #我的七夕交易分享 #宇树科技上市首日大涨629% $BTC $ETH $XRP $SNDK $MU

Has South Korea stepped in to rescue the market this time?
SK Hynix announced a KRW 40 trillion, approximately $28.6 billion, share buyback, with all repurchased shares to be canceled.
The buyback will begin on August 20 and last for three months.
It also raised its long-term shareholder return target from no more than 50% of cumulative free cash flow to above 50%, while increasing dividend payouts through a combination of fixed and special dividends.

A simple question: Are people on Twitter really bullish on Unitree?

At today’s opening, its market capitalization was RMB 444.9 billion. Full-year revenue last year was RMB 1.7 billion. Divide one by the other: 262 times.

The average P/E ratio for the STAR Market industry is 38 times, while Unitree’s IPO price implied a P/E ratio of 219 times. Based on today’s opening price, it would have to rise several more times.

In the last funding round in June of last year, its post-money valuation was RMB 12.7 billion. Today’s opening valuation was RMB 444.9 billion. In one year, that’s a 35-fold increase. A successful allotment of one lot would earn RMB 470,000.

1, From a fiscal perspective, massive amounts of debt need to be issued, which requires money and subscribers, so everyone needs to keep buying, buying, buying (pension funds, insurance companies, sovereign wealth funds); 2. AI also needs money, so companies issue bonds to raise financing, and everyone needs to keep buying, buying, buying. 3. Then long-term interest rates move upward. Isn’t the basic logic above correct? So why the hell raise rates too? If this isn’t the time to inject liquidity, then when is?

$BTC tested the resistance zone again and got rejected again.

That keeps the zone strong. If this holds, the next move could be toward the middle of the range.

On the HTF, an Inverse Head & Shoulders is also forming. Early reversal signal.

Trading Notes: Gold and Crude Oil

I. Gold (Figure 1)

I haven’t done much with gold since closing the previous position, mainly because I needed to give it time to observe how it would move. At present, this phase appears to be a relatively mild correction, and there is a chance it could move higher and break 4500.

II. Crude Oil (Figure 2)

SanDisk Loses One Kweichow Moutai in Market Value in a Day—Buy the Dip or Run for Your Life?

SanDisk opened sharply lower last night, at one point down more than 9%. SK Hynix fell 9.2%, Seagate fell 9%, Western Digital fell 7.4%, and Micron fell 7%.

The five storage giants suffered a collective bloodbath.

The Philadelphia Semiconductor Index plunged 4.98%. The Nasdaq fell 1.33%.

What does losing 9% in a day mean? SanDisk shed about $160 per share in market value in a single day.

Those buying the dip are shouting “golden opportunity,” while holders are asking, “Should I get out?”

Let’s first talk about why it fell.

There were three direct reasons:

First, it had risen too much. SanDisk surged 3,415% over the past year—you read that right, 34-fold. Any asset that rises this much is sitting on a time bomb of profit-taking. An Aptus Capital fund manager put it bluntly: “Investors have begun taking profits and shifting into cash after the recent sharp gains in AI hardware stocks.”

Second, long-term bond yields surged. The yield on 30-year U.S. Treasuries hit a 19-year high. AI and semiconductor sectors, which are highly sensitive to long-term funding costs, took the brunt of the impact. Put simply—money has become more expensive, so capital-intensive businesses get hit first.

Third, the market is waiting for an answer. Anthropic’s annualized revenue exceeded $65 billion, but “appears slightly below recent market expectations.” How quickly will AI commercialization actually take hold? The market has no clear answer.

On the very day SanDisk plunged, JPMorgan gave it a $2,250 price target.

Bank of America reiterated its “buy” rating on Micron, with a $1,550 price target, 61% above the stock price at the time.

For the same stock, the market was selling while top institutions were buying.

The core disagreement comes down to one question: Is storage still a cyclical industry?

In the past, memory chips were standard cyclical products—soaring wildly when prices rose and collapsing when prices fell, with fortunes dependent on market conditions.

But SanDisk is trying to rewrite that script.

It signed long-term supply agreements with eight major data-center customers at once, lasting up to five years and guaranteeing $93.9 billion in revenue. In fiscal 2027, long-term contract orders will cover more than half of flash shipments; in 2028, they will cover two-thirds.

What does that mean?

SanDisk’s revenue used to depend on NAND prices, with negotiations taking place every quarter. Now, its shipment volumes and prices for the next four to five years are locked in.

Bank of America’s logic is this: If SanDisk can turn a cyclical business into a “recurring revenue” business, Micron can follow the same path through AI-driven HBM demand and supply discipline. Bank of America forecasts that Micron’s fiscal 2030 earnings per share could reach $200 to $250, and that its valuation should be re-rated from the historical 10x P/E to 12x–15x.

In plain English: If storage is no longer cyclical, today’s valuation is the floor, not the ceiling.

So what was last night’s plunge?

I think two narratives are colliding—

Short-term narrative: After rising more than 600%, profit-takers want out; long-term bond yields are surging; and market sentiment is tightening. A 9% drop is entirely reasonable.

Long-term narrative: Demand for NAND driven by AI inference is only just beginning. SanDisk expects the potential market for flash storage in enterprise data centers to expand to 1.2 zettabytes by 2030. That number is so large that most people have no intuitive grasp of it—let’s just say it is a lot.

The head of technology research at Freedom Capital put it quite aptly: “Memory companies currently have extremely strong fundamentals, but bearish investors are still waiting for an inevitable collapse in storage-chip prices.”

Both bulls and bears have valid points. It all depends on your time horizon.

My view: This is a normal correction, not the end of the rally.

Why?

Because the long-term storage thesis has not been broken—AI needs storage and computing power, and inference needs NAND. That is a law of physics, not market sentiment.

One remark from SanDisk’s CEO is worth pondering: “Some top customers applied for additional flash procurement allocations for the following several years just one quarter after signing long-term purchase contracts.”

Customers themselves are chasing additional orders. Do you think they are fools?

But there is one condition—you have to be able to withstand the volatility.

SanDisk rose 34-fold in a year, but can also fall 9% in a day. The holding experience for an asset like this is more than most people can handle.

An ActivTrades analyst cautioned: “Given the astonishing recent stock-price gains, volatility and profit-taking pressure in high-beta technology stocks may remain elevated.”

In plain English: More turbulence is coming.

If your position is too large, trim it a little so you can sleep at night.

If your position is small, wait for the stock to stabilize before reassessing.

If you have no position, don’t rush to buy the dip—wait for the market to give you the answer, rather than trying to give the market one.

The long-term storage story has not changed, but short-term volatility can shake you out of the trade.#宇树科技上市首日大涨629% #我的七夕交易分享 #韩股跌超6%触发交易暂停 $SNDK $MU $SKHY $NVDA $META

@roger9949? You can even go there? That's badass.

Japan just took another serious hit.

The Nikkei 225 dropped around 2.6% today, sliding to about 65,704 as investors dumped tech and semiconductor stocks. More than $230 BILLION in Japanese stock market value was wiped out in the selloff.

And this wasn’t happening in isolation.

Wall Street’s tech weakness spilled into Asia, while rising global bond yields are making investors rethink how much they’re willing to pay for high-growth stocks. Japan’s 10-year government bond yield is also approaching 3%, adding more pressure to valuations.

Chip names were among the hardest hit as the global AI trade cooled off. Japan’s market has become heavily exposed to the same technology and semiconductor cycle that has been driving markets higher.

Now the bigger question is whether this is just profit-taking…

or the beginning of a much deeper reset in global tech stocks.

Japan is flashing a warning that markets may be far more fragile than they look.

Recently, the topic of being a real man has been getting a lot of attention. The simp economy is collapsing. I’ve always been telling my brothers: Don’t be a simp. A simp is a simp, and in the end, he’ll have nothing. I really relate to what this guy said.

Those who won the IPO allotment made a fortune
Unitree Technology opened 629% higher on its STAR Market debut
Its share price quickly fell back after the open
The intraday low was 882 yuan
Next, shareholders will start cashing out, and then it’ll be down, down, down~
The retreat after the sharply higher open also dragged the entire A-share humanoid robotics sector sharply lower~

Unitree Robotics officially went public today, with its intraday market cap briefly surging past 400 billion yuan!

As the first publicly listed humanoid robotics company, Unitree is certainly attracting plenty of attention. But if we set the emotions aside, its financials and industry competition also deserve a calm look.

For full-year 2025, revenue was 1.7 billion yuan, up approximately 300% year over year; non-GAAP net profit was 591 million yuan, and gross margin for its core business reached as high as 60.13%.

But by the first quarter of 2026, the picture began to change:

Revenue was 423 million yuan, up 68.49% year over year, which was still impressive; however, non-GAAP net profit was only 40.25 million yuan, down 52.55% year over year.

In other words, revenue is still growing rapidly, but the profit side is already facing significant pressure.

More importantly, humanoid robots are still in the stage of ongoing commercial validation. There is still uncertainty over whether real orders can continue and whether large-scale applications can truly be implemented in the future.

At the same time, Tesla, traditional automakers, consumer electronics giants, and a host of robotics startups are all accelerating their entry into the sector.

The hotter the track becomes, the fiercer the competition will be. Future technological iterations, price wars, and declining profit margins could all become challenges Unitree needs to face.

Judging from the current negative funding rates in the derivatives market, market sentiment is actually not as optimistic as one might imagine.

So when looking at Unitree now, two sentiments may coexist:

On the one hand, there is extreme optimism about the future of humanoid robots; on the other, there are concerns about the current valuation and the sustainability of its profitability.

But that has not dampened everyone’s enthusiasm for subscribing to the IPO today😂

One winning allocation is 500 shares. At an offering price of 150.8 yuan per share, the cost per allocation is approximately 75,400 yuan.

If calculated at the intraday price of 884 yuan per share, the unrealized gain on one allocation would reach more than 360,000 yuan.

It has to be said that this kind of money-making effect makes it difficult not to be tempted.

But IPO subscription is one thing, and valuation is another.

In the short term, sentiment matters; over the long term, it still comes down to orders, technology, and genuine commercialization.

Opened at ￥1100... corresponding to a market cap of ￥445 billion. Profit per lot: ￥475,000. I’m speechless.

Recently, the topic of “real men” has been getting a lot of attention. The simp economy is collapsing. I’ve always been telling my brothers: don’t be a simp. A simp is a simp—if you keep simping until the end, you’ll end up with nothing. I somewhat relate to what this guy said. What do you guys think?