Recently i calculated Variational revenue per M of volume and was pretty disappointed
It's as low as Lighter, so i asked the team and i wasn't ready for the answer:
Hyperliquid or Lighter margin revenue doesn't scale with activity, they're just taking fees from users or premium users
Variational is actually generating a lot of revenue, 5M gross revenue, but they have a lot of hedging costs, that's why they're generating "only" 2,3M net
That's where it gets interesting
The more activity and positions there are on Variational, the less they have to hedge because more positions are netting each o

$ZEC
Institutional capital is rushing in🔥
Grayscale's Zcash ETF surpasses $500 million in assets
Privacy coins have officially secured their entry ticket to Wall Street
ZEC has been truly outrageous lately
Grayscale's Zcash ETF (ZCSH) has only been listed for about two weeks
Yet its assets have officially surpassed $500 million
It currently holds more than 550,000 ZEC
Accounting for approximately 3% of ZEC's circulating supply
Just a few days ago
ZEC was still wildly battling around $1,000
But this morning it broke its all-time high
Touching 1,265
And just now it broke through again, reachin

I’m seriously fed up... I deposited 20 USDT and have already lost half of it again.

Germany is moving to end its one-year crypto tax break.
A draft would tax crypto gains at a flat 25% from 2027, ending the tax-free treatment after 12 months.
The good news? Older holdings would reportedly keep the current exemption.

What if...?
bitcoin:native

is #laptop token lunched?
wtf

$USELESS is performing strongly in Gate’s Futures Meme Zone!
🔹 48-hour gain: 64.74%
🔹 Hot take: Turning “useless” into resonance — $USELESS, the anti-pattern Meme on Solana!
🔥 Gate Futures is keeping pace with the market, quickly listing popular Memes!
Trade $USELESS: https://www.gate.com/zh/futures/USDT/USELESS_USDT

$ZEC I’m bullish, but not because of negative funding rates.
$ZEC I’m bullish on this move, but not because “negative funding rates will trigger a short squeeze”—we backtested that thesis ourselves, and it doesn’t hold.
What’s really worth watching is these three figures together: funding rates turned negative across all platforms (-0.038% to -0.1321%), perpetuals are trading at a 0.033% discount to spot, and the price is already up +56% over 7 days, reaching 99.3% of the 30-day range.
A leverage-driven move doesn’t grow like this. Long euphoria should mean funding rates surging positive and p

9.9 Su Wan’s Evening Market Analysis and Trading Strategy
The upward move is still just a paper tiger; the current push higher is merely setting up for a better drop. The 80k level will not be easy to break, so just short around the resistance level.
Bitcoin: Short around 79,300–79,800, targeting around 78,500–77,000.
Ethereum: Short around 2,500–2,500, targeting around 2,450–2,420. $BTC $ETH #Gate上线打金狗限时免Gas费

$BASECAT Positive catalysts have been fully priced in, and the price is facing clear pressure. Muye on Crypto precisely positioned a 10x short, securing a 286.13% return. Entry price: 0.05501; current price: 0.03914.
Meme coins lack substantive support, highlighting the risks of whale control. As a professional trader, I choose to short with the trend.
Stay calm when the market is overheated and strictly manage stop-losses and take-profits to survive in this market for the long term. $BTC $ETH #Gate上线打金狗限时免Gas费

I originally wanted to cut my losses and offer them to the heavens, but the sacrifice never happened—the meat roasted itself. 😏 A few days ago, when the screen was glowing green, $SIREN there was a low-volume rebound, with selling pressure weighing it down all the way, and the rebound could not even touch the first key level. With such a weak structure right in front of me, not shorting would have been hard to justify.

Short opened at 0.46953, and just now I saw 0.02892, with position gains of +2301.03%—time for a good meal, brothers. This move was not because I was skilled; the market was

Most traders are about to get blindsided by $ETH /USDT right now.

$ETH /USDT - LONG

Trade Plan:
Entry: 2497 – 2505
SL: 2463
TP1: 2530
TP2: 2549
TP3: 2577

Why this setup?
Why now? The daily trend is bullish, but the 1h RSI at 44.12 signals room for a final push before exhaustion. The 1h ATR of 15.896969 defines the volatility envelope that makes the entry zone between 2497 and 2505 a precise spot to lean in. From there, the 4h structure aims at TP1 2530 and TP2 2549, with TP3 2577 as the extended target. The line in the sand is the invalidation level at 2455, which must hold to keep the s

Insiders are whispering that $ETH /USDT is about to explode past 2540.

$ETH /USDT - LONG

Trade Plan:
Entry: 2487.85 – 2495.93
SL: 2453.09
TP1: 2520.99
TP2: 2540.39
TP3: 2569.48

Why this setup?
Why now? The daily trend is firmly bullish, setting the stage for a continuation move. The 1h price sitting at 2491.89 is right inside the entry zone, offering a precise trigger. A 15m RSI of 39.25 signals room for upward momentum before overbought territory, while the 1h ATR of 16.165198 confirms enough volatility to push toward the first target of 2520.99. The second target at 2540.39 aligns with

🔥 The Gate ETF gainers list is here!
VVV3L surged +201.49% over 24H to take the top spot, with LIT3L, DOT5L, and ATOM3L close behind.
Did you catch this move? 👀
Which ETF do you think will be the next to take the top spot?
👇 Post with the hashtag #GateETF涨幅榜 to share your outlook, trading strategy, or live trading results.
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A few days ago I was still calculating whether I had enough money for instant noodles this month; this morning I was already wondering whether to add sausage. This was purely because the market was in a good mood and casually tossed out a few gold coins, which happened to land on my head. When the screen was glowing green, everyone else was running, but I saw that $UNI UNI had not collapsed along with the market and instead held steady at 5.766. From what I’ve observed, this kind of resilience against the trend most likely means there is money supporting it. Buying pressure is strengthening an

$MOO Performing brilliantly in Gate Futures’ Robinhood section!
🐮 A chip-sector pun, a bull in the Meme sector!
🔹 48-hour gain: 43.44%
🔹 Hot take: Micron’s MU homophone × cow Meme, $MOO bringing the memory chip narrative to Robinhood Chain!
🔥 Gate Futures follows the market closely, rapidly listing popular Memes!
Trade $MOO: https://www.gate.com/zh/futures/USDT/MOO_USDT

From Base to Robinhood Chain: Why Is the L2 Boom Hardly Benefiting Ethereum?
[Plain-language introduction] Enterprise-grade L2s are commercially thriving, but for compliance and liability reasons, they can never relinquish ultimate control and move toward genuine Stage 2 settlement.
As a result, Ethereum can neither capture substantive economic value nor achieve its vision of underlying scalability through L2s; the two are structurally locked in an irreconcilable misalignment of interests.
Ethereum should stop catering to L2 demand and instead focus on the CROPS (censorship resistance, privacy

Nobody is talking about this BTC setup yet.

$BTC /USDT - LONG

Trade Plan:
Entry: 78909.2 – 79107.4
SL: 78056.6
TP1: 79722.1
TP2: 80197.9
TP3: 80911.7

Why this setup?
Why now? The 1h price sits at 79010.5, right inside the entry zone of 79008.3, and the daily trend is bullish, which aligns with the 95% confidence bias. The 15m RSI at 47.26 shows room to run before overbought, while the 1h ATR of 396.53 tells us the next leg can easily push toward TP1 at 79722.1 and then TP2 at 80197.9. The invalidation level at 78576.2 is the hard line that proves this trade wrong if broken.

Debate:
Are