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深潮_TechFlow

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$BTC really does punish anyone who mistimes the market.
An uncomfortable fact is that a large portion of BTC’s long-term returns comes from a very small number of trading days.
Analysis from Grayscale shows that over the past 3 years, BTC returned approximately 225%, while the Nasdaq 100 Index returned 109%.
But:
-Excluding the 5 best-performing trading days, BTC’s return would fall to just 95%.
-And if the 15 best-performing trading days were excluded, it would erase all of Bitcoin’s gains over the past 3 years...
No one can know in advance when these outsized-return days will occur. It is h
BTC-0.09%
NAS100+0.55%
Every heavy AI user has probably experienced that secret thrill:
The large model is not only endlessly patient with you, but also always goes along with your wishes, giving you a set of seemingly reasonable deductions that create the satisfying feeling of “great minds think alike.”
Using AI can be addictive, even if you are the president of the United States. Trump has clearly become completely hooked on large models.
According to a recently published cover story by Time magazine, Musk secretly entered the White House Oval Office in December 2025.
During that meeting, Trump actually spent seve
Bitwise launched the first U.S. spot NEAR ETF on NYSE Arca yesterday (ticker: NRR).
Meanwhile, $NEAR has surged from $1.6 at the end of August to above $5, nearly tripling.
By inertia, some people’s first reaction is: traditional capital is entering to scoop up tokens, making this a major bullish catalyst worth chasing.
But if you break down the ETF’s actual structure and the logic behind NEAR’s rise over the past two months, you will find that blindly FOMOing in could easily make you the bagholder in a “Sell the News” event.
NRR’s launch has indeed opened up a compliant channel for buying NE
When it comes to going against the grain, no one does it better than California Governor Gavin Newsom.
Newsom officially signed AB 2409 into law on Sunday, explicitly banning state and local public officials in California from issuing Meme coins.
Even more aggressively, the law also restricts any crypto service provider from offering California residents any Meme coin issued by or in collaboration with federal, state, or local public officials, taking effect on January 1, 2027.
You get the point: If they can’t control the president issuing coins at the top, can’t they at least control the civi
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MEME-2.74%
TRUMP+0.98%
Do you still remember the craze when the lobster OpenClaw previously went viral?
Tencent’s QClaw (Lobster) officially announced today that it is shutting down, guiding existing users to migrate to WorkBuddy. Unused plan balances can be refunded.
From going viral to signing off, its lifespan was only 6 months. I vaguely remember that some cities even held offline events to help people install the lobster, as if it had become a nationwide craze.
This also means that the narrative window for “consumer-grade, remote computer control, one-click deployment for everyone” has basically closed.
In its
MEME-2.74%
TOKEN-4.19%
You didn’t make money from this altcoin rally?
Don’t feel bad, because the data shows that most people haven’t made money either.
Glassnode data shows that among the top 500 altcoins by current market capitalization, the median profitable supply is still below 25%. This means that the vast majority of altcoin holders are currently underwater and facing real losses.
Historically, true market euphoria tops are usually accompanied by the vast majority of token supply being deeply in profit. But comparing the red-and-green heat map with the blue line on the chart shows that we are still a long way
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If you missed this round of broad-based altcoin gains, no worries—your chip/tech stocks have rallied back.
AMD’s share price closed up nearly 10% on September 21 at $615.52, setting a new all-time high. The company’s market capitalization surpassed $1 trillion for the first time, making it the fourth U.S. semiconductor company after Nvidia, Broadcom, and Micron to reach a $1 trillion market cap.
AMD has gained about 24% cumulatively over the past five trading days, with a year-to-date increase of more than 180%.
In the current PC-building market, besides Intel, AMD’s CPUs are generally conside
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AMD-3.88%
NVDA-2.86%
AVGO-4.28%
INTC-5.22%
MU-4.83%
bitcoin:native, after lying dormant for 9 months, returns to 85,000.
It feels both like a lifetime ago and long overdue.
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BTC-0.09%
If you participate in new token launches, only take the launch gains and avoid holding the tokens. Because data on token listings over the past more than ten years shows that the market is truly punishing “diamond hands.”
GSR compiled more than 2,300 listing records from major exchanges since 2013. The conclusion is very clear: the median time for a new token to fall below its issue price is just 3 days, while the median decline within 90 days reaches 50%.
Combined with the industry’s familiar “low circulation, high FDV” model, token life cycles display the following characteristics:
1/ High v
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Projects that were hailed as “top-tier” in the previous cycle, if they still haven’t launched a token, probably won’t be able to launch one this cycle.
Linera is the latest example.
Previously backed by a16z and other institutions with a total investment of approximately $12 million, its founder came from Meta and participated in the Libra stablecoin project, and it sought to build an L1 with lower latency and a more Web2-like real-time experience through microchains.
Yet Linera announced yesterday that it would cease operations immediately because its planned token $LNRA community round publ
Circle’s public chain @arc will open its gates the day after tomorrow (September 16).
But even before the mainnet has opened its doors, dozens of launchpads have already begun competing.
Some are willing to pay an 80% premium for tokens just to get in before retail investors, with the premium for exchanging USDC reaching as high as 1.8x.
This FOMO sentiment clearly stems from what Robinhood Chain just demonstrated: with top-tier launchpads like PONS operating on-chain, whoever controls the token issuance gateway gets to take the fattest fees first.
Will the same script play out again on Circle
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USDC+0.01%
PONS-11.84%
🌐 September 14 - September 20 | This Week's Major Events
📅 September 14 | Monday
🔵 The Korea Exchange will launch after-hours stock trading on September 14
📅 September 15 | Tuesday
🔵 The U.S. Senate will hold a cloture vote on the Clarity Act
📅 September 16 | Wednesday
🔵 The “Doubao Phone” will be released and launched
🔵 Arc mainnet launch
📅 September 17 | Thursday
🔵 The U.S. FOMC will announce its interest rate decision
🔵 Fed Chair Warsh will hold a monetary policy press conference
🔵 The U.S. SEC will hold a roundtable to discuss preparations for 24-hour stock market trading
🔵 Mu
ARC-0.14%
ZRO-0.49%
In the past August, crypto became the leader among all major asset classes globally.
- SOL +41.5%, ETH +32.6%, BTC +25.0%
- Nasdaq +3.9%, S&P 500 +2.6%
- Gold +9.9%
- Global real estate index -4.0%
- Global bond index -1.2%
(Data source: Research & Insights)
It can be seen that crypto assets have shown far greater elasticity than traditional assets amid the recovery in risk appetite.
Meanwhile, the monthly gains of leading crypto assets in August were 6–10 times those of U.S. tech stocks, and they also significantly outperformed gold.
Spot ETF inflows in the U.S. were also substantial in Augus
SOL-3.53%
ETH-4.16%
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SPYX+0.11%
GLDX+1.53%
The “money laundering case involving credit card repayments on behalf of others” reported by CCTV today is nothing new in itself—just a typical variant of the old gray-market money-laundering scheme.
Law-abiding people naturally would not touch such a low-level laundering operation, but this case still reminds us to be wary of passive contamination along the funds chain:
Funds laundered by gray-market groups—whether routed through offline bulk transactions, introductions by acquaintances, or OTC exchangers—
can, as they pass through layer upon layer of transfers, carry tainted upstream funds i
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Meme coins do not necessarily have to be tied to stocks; they can also be tied to boomer coins.
The cat-themed Meme coin on Solana, solana:HcRLc9VDgjLeK154xDawfb1dmVJ98DoSqcwTHGqiDeJR, has established a “hold to earn dividends” cycle: by extracting a 3% transfer tax from every transaction, it automatically converts the proceeds into the privacy coin $ZEC and distributes them to wallets holding at least $20. It has so far distributed approximately 2,320 $ZEC (around $2.8 million) to holders across more than 470,000 distributions.
The core logic behind this narrative’s ability to ignite the mar
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MEME-2.74%
SOL-3.53%
ZEC-1.33%
On This Day in History, here’s a time-traveling news flash:
On September 7, 2016, bitcoin:native broke through $600.
Note: $600, not $6,000...
For young men and women just entering society, a 10-year span may not feel particularly significant;
but for those who have already been through the wringer, 10 years bring a strange feeling:
looking back, it passed in the blink of an eye, yet brought concrete and vivid upheavals in career choices, building a family, and life goals.
Over these 10 years of quiet yet massive change, if you had 10k yuan in spare cash, then:
1. You were a degen:
Back then,
BTC-0.09%
MEME-2.74%
NAS100+0.55%
GLDX+1.53%
PAXG+1.40%
🌐 September 7 - September 13 | This Week's Major Events
📅 September 7 | Monday
🔵 Qunhe Technology and others included in the Southbound Stock Connect, Baidu included in the Shanghai-Hong Kong Stock Connect
🔵 Anthropic IPO postponed
📅 September 8 | Tuesday
🔵 Longsys to list in Hong Kong, expected to begin trading on September 8
🔵 Ondo Finance will stop minting USDY on Aptos and Noble on September 8
📅 September 9 | Wednesday
🔵 The U.S. Treasury's Treasury buyback volume is expected to double, effective September 9
🔵 The Republican Party's first midterm election convention
🔵 Deadline f
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APT+7.61%
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SOL-3.53%
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