Author: Shenchao TechFlow
Yesterday's market dynamics
F2Pool co-founder Wang Chun炮轰 Zcash: Blacklisting the Zcash team remains one of the best decisions I've ever made.
F2Pool co-founder Wang Chun (@satofishi) posted that six years ago, he banned the entire Zcash team due to their persistent confusion between EST and EDT time zones, concluding that the team lacked fundamental understanding; he stated that this decision remains one of the best he has ever made.
Wang Chun cited the BlockFi incident as an analogy—BlockFi once mistakenly sent 701.4 BTC instead of the intended 701.4 USD to users, pointing out that "someone who can't tell the difference between EDT and EST is likely to confuse BTC with USD."
Shen Yu: On the night of the ZEC mainnet launch, the mine's transformer was struck by lightning, and since then, no ZEC has been held in personal wallets.
Cobo co-founder and CEO Shen Yu wrote in a post recalling that he has a deep-seated aversion to ZEC. When ZEC launched on the mainnet in 2016, BitMEX set a price cap of 10 BTC, which became ZEC's all-time high. He said that shortly after beginning mining that night, the transformer at his GPU mining farm was struck by lightning, and he has never had ZEC in his personal wallet since.
Yi Lihua: Choosing the right direction in the cryptocurrency industry is crucial for long-term returns.
Li Huayi, founder of Liquid Capital, noted that, reflecting on his observations since entering the crypto industry in late 2015, direction selection is crucial alongside personal effort. He believes the groups most likely to achieve long-term success in the crypto industry include: first, those who accumulate BTC/ETH/BNB, including mining, holding coins, and operating mining pools—this yields returns through time compounding. Second, those involved in trading infrastructure, such as quantitative arbitrage, trading platforms, and stablecoins. Third, projects and market makers (MM), which involve issuing and controlling assets. In contrast, investors and futures traders generally experience more failures than successes; their model is like that of hunters—who must go out every day to hunt for food, facing high risk with low compounding returns.
Bonk Guy: CURRENT PERFORMANCE IS "STRIKINGLY SIMILAR" TO PEPE'S PARABOLIC RALLY BEFORE 2023
Trader Bonk Guy (Unipcs) posted that for months he has been trying to tell people that everything about USELESS right now looks “strikingly similar” to PEPE before its 2023 parabolic surge, including volume structure, open interest expansion, early relative strength, market timing, and initially outperforming the market on its own. He said that after reviewing the charts, USELESS’s price action is nearly an exact replica of PEPE’s before its 2023 parabolic rally began.
Bonk Guy said he once saw people ignore USELESS when it was worth $50 million, only to buy it later at $200 million, and suspects more people will buy once its market cap exceeds $1 billion. He believes the crypto market seems to exhibit a phenomenon: the higher the price, the more attractive the asset appears. History doesn’t repeat itself exactly, but it often rhymes—and now this “rhyme” is becoming more obvious.
Trump updates U.S. presidential ranking list: places himself alone in the "greatest" category
On Monday, U.S. President Trump published an updated version of the U.S. Presidential Ranking on a social media platform, expanding on the version released a few days earlier. In the latest ranking, former U.S. presidents are categorized into six levels: “Greatest,” “Great,” “Near Great,” “Average,” “Below Average,” and “Failures.”
Trump placed himself alone in the "great" category, above Abraham Lincoln, George Washington, and Franklin D. Roosevelt. Reagan was moved to the "near great" category, while Hoover was downgraded to "failure." Biden and Obama have remained in the "failure" category.
Overtaken by GMGN, Robinhood Chain's fee revenue over the past 24 hours dropped to $1.87 million.
According to DeFiLlama data, after maintaining fee revenue above $2 million for several consecutive days, Robinhood Chain's fee revenue over the past 24 hours declined to $1.87 million, overtaken by GMGN ($2.05 million).
In addition, Robinhood Chain generated $21.44 million in revenue over the past 7 days, ranking second only to Tether ($96.97 million) and Circle ($39.51 million).
Hyperliquid has burned 15,300 HYPE in the past 24 hours, with the total burned amount accounting for 4.84% of the maximum supply.
According to on-chain analyst Onchain Lens (@OnchainLens), Hyperliquid repurchased and burned 15,350 HYPE tokens at an average price of $86.17 over the past 24 hours, worth approximately $1.32 million. To date, the total cumulative burn of HYPE has reached 48.45 million tokens, valued at approximately $4.11 billion at current prices, representing 4.84% of the maximum supply and permanently removed from circulation.
Bithumb lists the USELESS/KRW trading pair
According to Bithumb's official announcement, Bithumb will officially launch the USELESS/KRW trading pair on September 8, 2026 (today) at 2:00 PM, with the Solana network supported and a reference price of 309 KRW.
Abraxas Capital has once again purchased 13,000 ETH spot for hedging, valued at approximately $32.39 million.
According to on-chain analytics platform Lookonchain (@lookonchain), Abraxas Capital purchased an additional 13,000 ETH (approximately $32.39 million) in spot to hedge its short position of 141,180 ETH (approximately $353 million) on Hyperliquid.
Today's market conditions
Recommended Reading
JPMorgan research report interpretation: The era of inference has begun, and capital will shift from hardware to the software layer.
https://www.techflowpost.com/article/33825
Hyperscale data center capital expenditures are projected to reach $1.5 trillion by 2027, a 60% year-over-year increase, with growth sharply declining to 12% in 2028. On September 4, Morgan Stanley released an AI guide report, developed across seven teams and centered on eight key debates. The report notes that AI is transitioning from the training era to the inference era, with investor capital gradually shifting from the hardware and semiconductor layers to the enabling and software layers. GenAI enablers such as AMZN, META, GOOGL, and MSFT are expected to benefit from upward earnings revisions and valuation expansion.
Morgan Stanley expects AI compute capacity to grow from 35 gigawatts in 2025 to approximately 145 gigawatts in 2028, a fourfold increase. The share of custom chips in incremental capacity will rise from 34% to 66%, led by Google’s TPU and Amazon’s Trainium. Regarding AI return on investment, Morgan Stanley outlines three scenarios, all pointing to a range of 25% to 50%, with the highest returns coming from model layers running APIs on their own infrastructure.
Debt of $20 million with no one to help—Hunter Biden, son of the former U.S. president, and the hidden agenda behind his coin launch
https://www.techflowpost.com/article/33822
Yesterday, we were analyzing Hunter Biden’s issuance of $LAPTOP on the Base chain as a form of "on-chain political revenge" against Trump's camp.
Airdropping to losing $TRUMP holders certainly comes across as delightfully mischievous, turning the political rivalry between America’s two parties into a highly shareable Meme narrative.
But if this former U.S. president’s first son went through great lengths to launch a token solely to stage a political performance on-chain with no economic motive, it would clearly not align with the considerations or modus operandi of the elite.
Beyond cryptocurrency tokens, you may not know that this former U.S. president’s son is currently under intense pressure from creditors in the real world.
Thus, this seemingly absurd token mechanism easily makes people think he might be raising funds to save himself.
Ethereum is considering allowing stablecoins for gas payments—will this weaken demand for ETH?
https://www.techflowpost.com/article/33808
On September 7, a tweet spread on X: "The next major upgrade to Ethereum will allow users to pay transaction fees with stablecoins instead of ETH."
The comments section exploded immediately, with Ethereum community member Leo Lanza responding within an hour with a crucial clarification: “The protocol will not accept USDC as gas. Ethereum gas settlement remains ETH; it’s just that, from the user’s perspective, they’re paying with USDC.”
What's the truth?
Morgan Stanley research report analysis: GPT-6 Astra reshapes the AI demand framework; computing power remains the top investment choice
https://www.techflowpost.com/article/33809
OpenAI's newly released GPT-6 Astra is redefining the investment logic for AI infrastructure.
On September 7, Morgan Stanley released a technology sector strategy report stating that GPT-6 Astra has been trained on one million GPUs, and its broad capabilities across inference, engineering, computer use, and physical-world tasks are reshaping market perceptions of AI demand. Morgan Stanley believes the risk of underestimating AI infrastructure investment now exceeds the risk of overestimating it; investor exposure to AI has declined significantly, and macroeconomic uncertainty combined with recent market corrections has created a window for reallocation.
Morgan Stanley categorizes AI investments into three verticals: AI computing (most preferred), storage (structurally favored but requires more selectivity), and networking (secondary choice). The report also notes that analog chips outside of AI are in the early stages of a cyclical recovery, offering valuable diversification opportunities.