半只猴子
半只猴子
交易员，meme玩家。
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7u challenge to one hundred million!
Day 35
Principal 7u, target one hundred million
Currently: 3850u
Living cost: 1950u
Available funds: 1900u+
Haven't opened many positions these two days, today I don't even want to open my phone or computer. Long-term chain scanning and looking at various consultations have made my eyes uncomfortable. Eye drops and eye exercises don't work well, the only thing I can do is to minimize screen time.
Last night I felt $ENA and $ONDO were pretty good, only bought a little spot. Besides these two, the spot is basically BNB; still holding long contracts on $BTC, continuing to hold; watching PONS for fundamentals, protocol revenue, and whether the new coin issuance can pick up; then fully loaded on meme coins.
Current operation strategy remains unchanged: content creation, contracts, and meme coins.
The strategy still uses a barbell approach, doing mainstream top assets on one side and pure meme on the other.
+178.76%
Snapshot at Sep 25, 2026, 17:54
The biggest change in the crypto space is hidden in the revenue structure of $RAY
RAY is one of the largest DEXs in the Solana $SOL ecosystem. Changes in its revenue structure reflect the shift in on-chain trading demand.
Look at this set of data:
In Q2, tokenized assets accounted for 21% of Ray's trading revenue.
In Q3, this number rose to 46%.
In just one quarter, the revenue share from tokenized assets surged from 21% to 46%, more than doubling.
Why is this important?
Tokenized assets are evolving from a "niche category" to becoming the core revenue source for DEXs.
This is not unique to any single chain. Previous data from $UNI also showed that tokenized stocks contributed 60% of its DEX trading volume. Of course, this doesn't mean other assets are shrinking; tokenized assets are simply growing faster.
HYPE's Money Printing Machine: Earning 2 Million a Day, Burning 1% Annually
$HYPE's revenue data has just been updated, and the only feeling after reading it is: this machine turns faster than expected.
Revenue side: Annualized $823 million
Historical total revenue: $1.358 billion
Annualized revenue: $823 million
Past 30 days: $56.33 million
Daily average revenue: $2.1 million
98% of revenue comes from perpetual contracts. Spot trading, gas fees, and auctions combined only account for 2%.
Burn side: Burning 1% annually. Revenue is not the end point; the key is where the money goes.
About 99% of transaction fees are used to buy back HYPE, only 1% goes to HLP. Priority fees and auctions are 100% burned.
Looking at burn data:
Total burned: 47.56 million HYPE, valued at $1.289 billion
Percentage of total supply: 4.76%
Annualized burn rate: about 1%
24-hour burn: 30,400 tokens, valued at $2.6681 million
The main channel for burning is the aid fund, accounting for 97.02%. The protocol takes the money earned, buys HYPE on the market, then burns it.
How the flywheel spins
Contract trading → generates fees → 99% buy back HYPE → burn → supply decreases → annualized burn 1%
This is not an "expectation," this is real data happening every day.
Summary
Earning $2.1 million a day, burning 1% annually, 98% of revenue comes from contracts.
$PUMP is really impressive
24-hour protocol revenue is $8.28 million, 24-hour protocol fees are $2.53 million
Protocol fees in the last 7 days are $47.7 million, 7-day protocol revenue is $15.73 million
Recently, Robinhood Chain's $PONS grew rapidly, but after careful thought, PONS is still far from pump. Here are a few simple points:
1. Temperament, or ambition, or strategic goals. When Robinhood Chain was booming, most of $UNI's revenue came from PONS contributions. If PONS had its own swap, wouldn't that revenue belong to PONS? Whether to build a swap is not about making money or not, it's a strategic issue. Obviously, PONS hasn't figured this out.
2. Team configuration issues. A compact team is indeed highly efficient, but long-term high-intensity work requires sustained combat power, and personnel configuration needs some degree of anti-fragility. Pump has withstood this challenge over the past two years, while PONS has not yet experienced it.
3. Product lines derived from memes, besides swap, include social, chain scanning tools, and multi-chain development. Pump excels in all these areas and can be said to be a leader in each niche.
Wang Chun's latest trading call: Is SPCX the best investment after Bitcoin?
What just happened? On September 28, 2026, Starship entered a sustained orbit for the first time, successfully deploying 26 operational V3 satellites. This is the first time Starship has truly generated revenue—previously, the 13 launches were basically experimental. Wang Chun has recently been saying: if you sold too early when $BTC BTC was at sixty or seventy thousand, and don’t dare to buy back above eighty thousand, consider $SPCX. It is the best investment outside of Bitcoin, investing in humanity’s multi-planet future. Flight 14 is a milestone: after more than 7 years of development, Starship finally starts generating revenue. Essentially, his statement uses Flight 14 to redefine SpaceX from a “reusable rocket + satellite internet company” to a “multi-planet civilization infrastructure company.” Four layers of meaning: 1. Most people see it superficially, only noticing Falcon reusability and Starlink making money, but the real tech stack is the full Starship capability: ultra-large payload capacity, on-orbit refueling, point-to-point transport, lunar/Mars bases. Starlink is just the first layer of cash flow; Starship is the underlying tool. 2. Flight 14 is the commercialization inflection point: for the first time, operational payloads are sent into orbit generating revenue, moving from “burning money to validate” to “profitable and scalable.” As launch frequency, payload volume, and recovery rate increase, the cost curve drops sharply—that is the real moat. 3. The investment logic of SPCX is like holding BTC for the long term.
6 billion shorts vs 2.6 billion longs, where is BTC really headed?
Just looked at the Bitcoin $BTC liquidation map, and in this chart, two lines are battling:
Red line: cumulative long liquidation intensity. Starting from 83,442, climbing all the way to the left side, it has accumulated over 2.6 billion USD on the far left. This means if the price drops, a large wave of longs will be liquidated.
Green line: cumulative short liquidation intensity. Starting from 83,442, climbing all the way up to the right side, it has piled up over 6 billion USD. This means if the price goes up, there is a large group of shorts waiting to be liquidated above.
Key positions:
Look at those dense bars; high-leverage positions are mainly concentrated in the 82,500 and 85,000-88,000 ranges.
Longs and shorts have each heavily positioned at these upper and lower levels.
Are you bullish or bearish now? Let's discuss in the comments.
