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Today · 2026-08-03 · Mon

Big deal: 12 about 25 BTCs at midday in HyperLiquid

According to monitoring by the `Big Deal', there are today, at midday, 12 successive purchases of about 25 BTCs, with a cumulative value of $299.84 BTCs, amounting to US$ 1967.67 million, at an average value of US$ 65,618. In addition to the "carrying margin ", the offer is more likely to open multiple warehouses. To date, the purchase has been in a profitable position, with a cumulative surplus of over $100,000, and no concentration on the corresponding scale has been observed. Proactive exchanges of the same direction and scale occur over a short period of time, often reflecting the fact that funds are concentrating on the implementation of the transaction strategy, which may have an impact on short-line liquidity and price tempo。

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It's been rising by about 9% over the last 30 days, returning to the 30-day average

10xResearch reported that the Ether Fever had risen by about 9 per cent over the past 30 days and had returned to the 30-day moving average line, which had previously reached $1565 at the end of June. Although the Ethera is still far below the high of $3583 in November, this recovery marks a significant shift in short-term kinetic energy, ending months of decline. The key question is whether the rebound is of a continuing nature or one of the larger downward trends. The ETH-USDT is currently above the 7-day moving average and the 30-day moving average, with a weekly change of +7.4 per cent. The Ether's “Pastchart” (i.e., the “Efficacy and the Taifeng”) plan to launch seven hard fork by 2029, with the goals of near-immediate final certainty (from 16 minutes to about 6 seconds), large-scale throughput (Layer 1 to 10,000 TPS, Layer 2 to 100,000 TPS by sampling data availability), back quantum safety (based on Hashi's signature) and original privacy (protected ETA transfers). The strategy has shifted from relying on a two-tier expansion alone to strengthening one layer. Critics have pointed out that the plan has bypassed the economics of tokens and has failed to create direct value for the owners of the Taifaf。

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Binance will adjust the multi-currency mortgage rate and the contractual leverage and bond levels

On 21 July, it was officially announced that Binance would update the portfolio bond and PMPro mortgage rates on 24 July 2026 at 0600 UTC (Beijing time 14:00) for assets such as ALGO, PUMP, WLD, JTO, TRUMP, etc. The Binance contract will be adjusted on the same day at 0630 UTC (14:30: Beijing time) to the leverage and bond levels of multiple U-supplied contracts, including C98USDT, CHRUSDT, LQTYUSDT, NILUSDT, USUALUSDT, SELLUSDT, ONEUSDT, AVOUSDT, CGPTUSDT, BANKUSDT, GUNUSDT, LAUSDT, OPNUSDT, KATUSDT, STARUSDT and ZILUSDT。

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ON JULY 24, 2026, FRANÇOIS WILL UPDATE THE MORTGAGE RATES FOR THE USDS-M CONTRACT AND LEVERAGE

CHEONAN ANNOUNCED THAT HE WOULD UPDATE THE MORTGAGE AND TIERED MORTGAGE RATES OF THE USDS-M CONTRACT FOR RENEWAL ON 24 JULY 2026 AT 06:00 (UTC). THIS UPDATE, WHICH IS EXPECTED TO BE COMPLETED IN 30 MINUTES, COVERS ASSETS SUCH AS ALGO, PUMP, WLD, ETC. USERS NEED TO BE AWARE THAT THE EXISTING WAREHOUSE SPACE WILL BE AFFECTED AND IT IS RECOMMENDED THAT ADJUSTMENTS BE MADE BEFORE IT IS UPDATED。

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Today's trade is 29,57,933 million yuan in the two cities

The total value of transactions in the two cities today is $29,577,933 million, an increase of $25,49666 million over the previous period. Of this amount, $139,6518 million was traded in the city, and $156,575 million in the deep market, or 836 million in the market. The middle-class trade was the highest, at $5,1302 million. This was followed by new euphoria, bountiful innovation, sophisticated Toshiyama and cold martial arts, with transactions of $39,883 million, $33,888 million, $32,706 million and $22,911 million respectively。

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Morgan Chase: The Korean stock market deleveraging process is 75 per cent complete and continues to maintain the “over-match” rating

MORGAN CHASE NOTED THAT FORCED DELEVERAGING, DRIVEN BY LEVERAGE ETF, WAS THE MAIN REASON FOR THE RECENT COLLAPSE OF KOREA ' S KOSPI INDEX. THE AGENCY ANALYSED THAT THE LIQUIDITY OF LEVERAGED FUNDS, RATHER THAN THE PROFITABILITY OF ENTERPRISES OR THE DETERIORATION OF FUNDAMENTALS, MAGNIFIES MARKET VOLATILITY. THE LEVERAGE ETF ASSETS ARE NOW EXPECTED TO SHRINK TO APPROXIMATELY $26 BILLION, AND THE DELEVERAGING PROCESS IS NOW ABOUT 75 PER CENT COMPLETE. THE BUSINESS FUNDAMENTALS OF THE KOREAN MARKET ARE STILL ROBUST, BUT STRONG DELEVERAGING PRESSURES ARE STALLING STOCK PRICES. THE AGENCY PREDICTS THAT STRONGER REGULATORY MEASURES SUCH AS INCREASED BASE DEPOSIT BOND REQUIREMENTS AND A MORATORIUM ON THE NEW LISTING OF SINGLE-STOCK LEVERAGE ETFS WILL FURTHER FACILITATE THE DELEVERAGING PROCESS. THE REPORT ALSO ASSESSES THAT HEDGE FUNDS ARE ALSO DECLINING RAPIDLY. ACCORDING TO CHASE MORGAN, THE SIZE OF THE POSITION UNDER HEDGE FUND MANAGEMENT HAS BEEN REDUCED FROM MORE THAN 5.5 TIMES THE NET ASSETS TO LESS THAN FOUR TIMES, AND IT IS ESTIMATED THAT THE DELEVERAGING IS OVER HALF COMPLETE. FOREIGN EQUITY NET SALES TO SOUTH KOREA ARE EXPECTED TO EXCEED $110 BILLION THIS YEAR, BUT ABOUT 90 PER CENT OF THEM ARE CONCENTRATED IN SEMICONDUCTOR STOCKS, WHILE THE PRESSURE ON FOREIGN INVESTMENT TO SELL IS GRADUALLY EASING WITH THE RECENT DECLINE IN STOCK WEIGHTS. THE BANK ALSO REMAINS OPTIMISTIC ABOUT THE MEDIUM- AND LONG-TERM PROSPECTS. INVESTMENTS IN AI AND DATA CENTRES REMAINED ROBUST, THE SLOW DEMAND FOR THE STORAGE OF CHIPS HAD NOT YET BEEN CONFIRMED, AND IMPROVEMENTS IN THE PROFITABILITY OF INDUSTRIAL, FINANCIAL AND CONSUMER BOARDS, AS WELL AS IN THE GOVERNANCE STRUCTURE OF ENTERPRISES, HAD ALSO BEEN BENEFICIAL TO THE KOREAN STOCK MARKET. MORGAN CHASE MAINTAINED ITS “SUPER-MATCHED” RATING ON THE KOREAN STOCK MARKET AND EXPECTED THE KOSPI INDEX TO HAVE A 12-MONTH TARGET PRICE OF 12,500 POINTS, CONSISTENT WITH THE PREVIOUS ONE. THE BASELINE SCENARIO TARGET IS 12,500 POINTS, THE CATTLE MARKET IS 15,000 POINTS AND THE BEAR MARKET IS 8,000 POINTS. KIM XIAN

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The dark side of the moon: user demand is well ahead of expectations and is mitigating resource pressures through model performance optimization and numeracy

Today, the head of business at the end of MoonShot AI, Wong Shuxling, revealed to the press that after K3 went online, the demand for users was much higher than previously anticipated, and that there was a strain on the entire platform, with limited registration of new users, and the team was ready to meet the demand. The team has given clear priority to safeguarding the user experience of older payers and has not yet fully liberalized the registration of new users, in exchange for short-term user growth at the expense of older users. The resource pressure is being gradually mitigated through model optimization and numeracy, with specific recovery times to be notified on the basis of resource reserves. (FIA)

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Qwen-Image-3.0

On 21 July, Ali released the latest basic model for the generation of images, Qwen-Image-3.0, which is also the third-generation basic model for the generation and editing of the model series. The new model supports a maximum of 4.5 k token super-long input, which can generate, at one time, knowledge maps, complex UI interfaces that cover the integration of elements such as formulae symbols, geometric graphics and logical extrapolation steps, while supporting original rendering of 12 national languages and more than 20 fonts. Kim Xian

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Macro-Key: the United States sovereign debt yield curve between 2 and 10 years will be even more flat in the short term

In a report on 21 July, James Reilly, a senior market economist at the Kaiser Macro, stated that the 10-year and 2-year United States Treasury debt yield differentials were expected to shrink further in the coming months and could lead to a reversal of the yield curve. We believe that the continued warming of the Strait of Hormuz could lead to a complete reversal of the yield curve. In a two-year period, when real rates of return surged, real rates of return contributed to the flattening of the yield curve. As investors' expectations of interest rates rise further, we expect that the two-year and 10-year sovereign debt yield curve will level in the coming months. Kim Xian

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