等风来Vireo
不追热点，不猜短期，不骄不躁。保持研究，记录思考，只等属于自己的那阵风。
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There is a lot of noise in the market, filled with endless "opinions".
Professional traders shouldn't even look at news, but rely solely on data for decision-making.
The difficulty in trading lies in the fact that making mistakes can lead to profits, while doing the right thing can often result in losses.
Without a systematic risk control mechanism, trading actually introduces risks, and operational risks far exceed volatility risks.
It may seem like a lot of effort is put in daily, but it's actually a negative cycle. The correct approach is to maintain a positive cycle, continue researching, and keep accumulating.
Not all pain has value; true "effective pain" must be built within a framework of scientific methodology.
Professional traders shouldn't even look at news, but rely solely on data for decision-making.
The difficulty in trading lies in the fact that making mistakes can lead to profits, while doing the right thing can often result in losses.
Without a systematic risk control mechanism, trading actually introduces risks, and operational risks far exceed volatility risks.
It may seem like a lot of effort is put in daily, but it's actually a negative cycle. The correct approach is to maintain a positive cycle, continue researching, and keep accumulating.
Not all pain has value; true "effective pain" must be built within a framework of scientific methodology.
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Crypto Information Gap on January 15, 2026
1. Yesterday, Bitcoin spot ETFs saw net inflows of $753.7 million. Ethereum spot ETFs recorded net inflows of $129.72 million. Solana spot ETFs had a total net inflow of $5.91 million in a single day.
2. The Central Bank of Pakistan has partnered with World Liberty Financial to use USD1 for cross-border payments.
3. The U.S. Senate Agriculture Committee announced it will release its crypto market structure bill on January 21, 2026. The hearing, originally scheduled for January 15, has been postponed.
4. ETHGas has released its tokenomics model: a total supply of 1 billion tokens, with 10% allocated to the community. Additionally, the snapshot for token airdrop eligibility will be taken on January 19.
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Crypto Information Gap - January 14, 2026
1. After the CPI release, the probability of a Fed rate cut in April rose to 42%. The U.S. December unadjusted core CPI year-over-year was 2.6%, compared to an expected 2.7% and a previous reading of 2.6%.
2. Bitcoin spot ETFs saw a net inflow of $117 million yesterday, reversing four consecutive days of net outflows. Ethereum spot ETFs recorded a net inflow of $5.042 million yesterday, reversing three consecutive days of net outflows. Solana spot ETFs had a single-day net inflow of $10.67 million.
3. Pancake proposal suggests reducing CAKE's maximum supply from the current 450 million to 400 million. The team believes that given the ecosystem growth fund has accumulated approximately 3.5 million CAKE available to support growth, and it is almost impossible to return to an inflationary state, reducing the cap to 400 million is sufficient to meet future demand.
2. Bitcoin spot ETFs saw a net inflow of $117 million yesterday, reversing four consecutive days of net outflows. Ethereum spot ETFs recorded a net inflow of $5.042 million yesterday, reversing three consecutive days of net outflows. Solana spot ETFs had a single-day net inflow of $10.67 million.
3. Pancake proposal suggests reducing CAKE's maximum supply from the current 450 million to 400 million. The team believes that given the ecosystem growth fund has accumulated approximately 3.5 million CAKE available to support growth, and it is almost impossible to return to an inflationary state, reducing the cap to 400 million is sufficient to meet future demand.
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Russell 2000 index breaks new all-time high
When the 'altcoins' in the US stock market start rising, the faucet of capital has already been turned on—the flow into the crypto market is just a matter of time
Smart money is watching across markets, while retail investors are still searching for a sword by marking a boat
$BTC $ETH $BNB
When the 'altcoins' in the US stock market start rising, the faucet of capital has already been turned on—the flow into the crypto market is just a matter of time
Smart money is watching across markets, while retail investors are still searching for a sword by marking a boat
$BTC $ETH $BNB
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Encryption is becoming increasingly boring, a cost of industry maturity, and also a side effect of compliance capital fully taking over pricing power.
This is a signal of a shift from PvP (Player vs. Player regulation) to GvG (Government vs. Government, competing for control over crypto pricing).
Regulation has fundamentally changed, evolving from a brake to an accelerator.
This is a signal of a shift from PvP (Player vs. Player regulation) to GvG (Government vs. Government, competing for control over crypto pricing).
Regulation has fundamentally changed, evolving from a brake to an accelerator.
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Crypto Information Gap on January 13, 2026
1. Strategy increased its BTC holdings by approximately 13,627 BTC, adding around $1.25 billion last week, bringing its total holdings to 687,400 BTC; Bitmine purchased 24,266 Ethereum (approximately $75.37 million) last week, increasing its total holdings to 4,167,768 ETH (approximately $12.9 billion), representing 3.45% of the total network supply.
2. South Korea ends nine-year corporate crypto ban, allowing up to 5% equity investment in the top 20 cryptocurrencies
3. Cryptocurrency content views on YouTube drop to the lowest level since January 2021.
4. Dubai will ban privacy coins and tighten stablecoin regulation, with the new regulatory framework taking effect on January 12.
2. South Korea ends nine-year corporate crypto ban, allowing up to 5% equity investment in the top 20 cryptocurrencies
3. Cryptocurrency content views on YouTube drop to the lowest level since January 2021.
4. Dubai will ban privacy coins and tighten stablecoin regulation, with the new regulatory framework taking effect on January 12.
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Crypto Information Asymmetry on January 12, 2026
1. According to the U.S. Senate schedule, the Senate Banking Committee will vote on the (CLARITY Act) at 10:00 AM EST on January 15.
2. The BNB Chain Foundation has purchased multiple Chinese Meme tokens. The top 6 assets held by this address are: MYX / CAKE / LISTA / SKYAI / Binance Life / Hakimi.
3. Data: The yield of 1 BNB in 2025 is $71.5, with a dividend yield of approximately 10% based on the average BNB price in 2025, making it the strongest golden shovel in the crypto space. BNB has far surpassed dividend yields in the US stock market and is the only token among BTC, ETH, BNB, and SOL that is expected to rise in 2025.
2. The BNB Chain Foundation has purchased multiple Chinese Meme tokens. The top 6 assets held by this address are: MYX / CAKE / LISTA / SKYAI / Binance Life / Hakimi.
3. Data: The yield of 1 BNB in 2025 is $71.5, with a dividend yield of approximately 10% based on the average BNB price in 2025, making it the strongest golden shovel in the crypto space. BNB has far surpassed dividend yields in the US stock market and is the only token among BTC, ETH, BNB, and SOL that is expected to rise in 2025.
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The essence of life is the process of information processing
Building cognitive depth through 'dimensional elevation'
Dimensional elevation: Integrating fragmented experiences and discrete signals into a multidimensional, cross-temporal insight system.
Achieving value output and connection through 'dimensional reduction'
Dimensional reduction: Compressing complex insights, intuitions, and systemic knowledge into linear language or text.
Dimensional elevation is internal evolution; dimensional reduction is external giving.
The most counterintuitive point is this: our efforts to learn, read, and practice本质上 make us 'harder to understand' (dimensional elevation); while all our expression desires are essentially a 'costly translation' (dimensional reduction).
Building cognitive depth through 'dimensional elevation'
Dimensional elevation: Integrating fragmented experiences and discrete signals into a multidimensional, cross-temporal insight system.
Achieving value output and connection through 'dimensional reduction'
Dimensional reduction: Compressing complex insights, intuitions, and systemic knowledge into linear language or text.
Dimensional elevation is internal evolution; dimensional reduction is external giving.
The most counterintuitive point is this: our efforts to learn, read, and practice本质上 make us 'harder to understand' (dimensional elevation); while all our expression desires are essentially a 'costly translation' (dimensional reduction).
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Crypto Insights - January 11, 2026
1. Bitcoin spot ETF saw a net outflow of $250 million yesterday, marking the 4th consecutive day of outflows. Ethereum spot ETF recorded a net outflow of $93.815 million yesterday, continuing the 3rd day of outflows.
2. According to Coinglass data, current funding rates on major CEXs and DEXs indicate the market is no longer bearish on BTC and ETH, but remains bearish on altcoins.
3. Bipartisan senators lean toward adjusting stablecoin yield rules, with the CLARITY Act advancing soon.
4. Pump plans to reform the creator fee mechanism, stating that the current model may distort incentive structures.
5. U.S. Treasury Secretary Bessent said that if the U.S. Supreme Court rules against the Trump administration's tariff policies, the Treasury has sufficient funds to cover any tariff refunds. Earlier reports indicated the U.S. Supreme Court is expected to issue its ruling (on the tariff case) on Wednesday, January 14.
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The Physics Engine Has Changed, and Empiricists Are Going Blind Collectively
Throughout the long journey of business and individual evolution, we constantly face a haunting paradox: the very logic that once led to your success is often the trap that buries you.
Most people regard experience as their most valuable asset, but from a fundamental logic perspective, experience is essentially an outdated old map. When the environment enters a period of structural change, this map not only fails to guide direction but may also accelerate your descent into the abyss.
I. Empiricism: The Low-Entropy Dividend of Stable Eras
We must first vindicate empiricism. During periods of highly stable environments, empiricism is not mundane but an extremely intelligent choice.
Most people regard experience as their most valuable asset, but from a fundamental logic perspective, experience is essentially an outdated old map. When the environment enters a period of structural change, this map not only fails to guide direction but may also accelerate your descent into the abyss.
I. Empiricism: The Low-Entropy Dividend of Stable Eras
We must first vindicate empiricism. During periods of highly stable environments, empiricism is not mundane but an extremely intelligent choice.
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Crypto Information Gap on January 10, 2026
1. According to CME 'Fed Watch', after the non-farm payroll data release, the probability of a 25-basis-point rate cut by the Fed in January dropped to 2.8% (pre-release: 11.6%), while the probability of holding rates steady rose to 97.2% (pre-release: 88.4%).
2. Yesterday, US spot Bitcoin ETFs saw net outflows of $400.24 million. Ethereum spot ETFs had net outflows of $159.94 million. Solana spot ETFs recorded a single-day net inflow of $13.64 million.
3. Optimism Foundation proposes using 50% of Superchain revenue to buy back OP tokens. Over the past 12 months, Superchain has contributed 5,868 ETH in revenue to the foundation.
2. Yesterday, US spot Bitcoin ETFs saw net outflows of $400.24 million. Ethereum spot ETFs had net outflows of $159.94 million. Solana spot ETFs recorded a single-day net inflow of $13.64 million.
3. Optimism Foundation proposes using 50% of Superchain revenue to buy back OP tokens. Over the past 12 months, Superchain has contributed 5,868 ETH in revenue to the foundation.
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Express your thoughts on NFTs when they are overlooked.
NFTs won't die; the origin of wealth ultimately points to art, essentially the financialization of consensus.
Each generation has its own way of playing; people in the past played with oil paintings, antiques, and collectibles.
For today's internet natives, digital assets on screens are the unique new playthings of this generation, aligning with generational trends.
Throughout history, oil paintings, antiques, collectibles, and others have all experienced crashes, but they eventually recovered (only the blue-chip ones, as they have the strongest consensus).
#nft
NFTs won't die; the origin of wealth ultimately points to art, essentially the financialization of consensus.
Each generation has its own way of playing; people in the past played with oil paintings, antiques, and collectibles.
For today's internet natives, digital assets on screens are the unique new playthings of this generation, aligning with generational trends.
Throughout history, oil paintings, antiques, collectibles, and others have all experienced crashes, but they eventually recovered (only the blue-chip ones, as they have the strongest consensus).
#nft
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Crypto Information Gap on January 9, 2026
1. Yesterday, U.S. spot Bitcoin ETFs saw a net outflow of $48.691 million. Ethereum spot ETFs had a net outflow of $9.859 million. Solana spot ETFs recorded a single-day net inflow of $197,000.
2. The entities under WLFI have applied to the OCC for a national trust bank charter in the United States. If approved, the trust bank will gradually launch crypto asset custody and stablecoin exchange services, primarily serving institutional clients.
3. After the release of the U.S. initial jobless claims data, the probability of a 25 basis point rate cut by the Federal Reserve in January is 11.6%
4. China's central bank has consecutively increased gold reserves for the 14th month in a row.
2. The entities under WLFI have applied to the OCC for a national trust bank charter in the United States. If approved, the trust bank will gradually launch crypto asset custody and stablecoin exchange services, primarily serving institutional clients.
3. After the release of the U.S. initial jobless claims data, the probability of a 25 basis point rate cut by the Federal Reserve in January is 11.6%
4. China's central bank has consecutively increased gold reserves for the 14th month in a row.
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Interest is merely the premium you receive for bearing the risk on behalf of the system.
What's called 'investment' is essentially saving, and the high APY you see is fundamentally the premium from selling put options—you're ultimately providing a safety net for potential platform or protocol failures.
What's called 'investment' is essentially saving, and the high APY you see is fundamentally the premium from selling put options—you're ultimately providing a safety net for potential platform or protocol failures.
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Crypto Information Gap on January 8, 2026
1. Yesterday, U.S. spot Bitcoin ETFs saw net outflows of $240 million. Ethereum spot ETFs recorded net inflows of $113.64 million. Solana spot ETFs had a total net inflow of $9.22 million in a single day.
2. Coinbase Bitcoin premium index turned positive again just one day after turning positive, but then reversed back to negative as selling pressure rebounded in the U.S. market.
3. MSCI decided to temporarily not implement the proposal to exclude DAT company from the index; DAT companies already included in the index can continue to be included, but MSCI will delay increasing their share counts, inclusion factors, and any new or size-based adjustments. (MicroStrategy will not be excluded from MSCI global indices)
2. Coinbase Bitcoin premium index turned positive again just one day after turning positive, but then reversed back to negative as selling pressure rebounded in the U.S. market.
3. MSCI decided to temporarily not implement the proposal to exclude DAT company from the index; DAT companies already included in the index can continue to be included, but MSCI will delay increasing their share counts, inclusion factors, and any new or size-based adjustments. (MicroStrategy will not be excluded from MSCI global indices)
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As the wealth of the older generation is gradually passed on to younger generations, widespread adoption of cryptocurrency may just be a matter of time.
According to UBS estimates, Americans collectively hold $16.3 trillion in wealth, with the baby boomer generation (born between 1946 and 1964) accounting for more than half, holding over $8.33 trillion in assets.
Coinbase's Q4 cryptocurrency outlook report shows that young investors are three times more likely to hold cryptocurrency than older investors, with approximately 25% of young traders holding non-traditional assets.
According to UBS estimates, Americans collectively hold $16.3 trillion in wealth, with the baby boomer generation (born between 1946 and 1964) accounting for more than half, holding over $8.33 trillion in assets.
Coinbase's Q4 cryptocurrency outlook report shows that young investors are three times more likely to hold cryptocurrency than older investors, with approximately 25% of young traders holding non-traditional assets.
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General Knowledge: Assets are what give me freedom (passive income).
Deep Insight: Assets are your creditors, demanding your attention and time.
If your assets require constant monitoring (like high-frequency trading) or constant worry (like collecting rent), then you are not the owner of the assets—you are a slave to money.
If your assets are growing in value but your bandwidth (free time) is decreasing, you are actually losing.
True wealth is not just a single-dimensional increase in net worth, but the dual accumulation of [free cash flow] and [free time flow].
Deep Insight: Assets are your creditors, demanding your attention and time.
If your assets require constant monitoring (like high-frequency trading) or constant worry (like collecting rent), then you are not the owner of the assets—you are a slave to money.
If your assets are growing in value but your bandwidth (free time) is decreasing, you are actually losing.
True wealth is not just a single-dimensional increase in net worth, but the dual accumulation of [free cash flow] and [free time flow].
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Crypto Information Gap January 7, 2026
1. Yesterday, U.S. spot Bitcoin ETFs saw net inflows of $694.67 million. Ethereum spot ETFs had net inflows of $165.45 million. Solana spot ETFs recorded total daily net inflows of $16.24 million
2. The Ethereum staking exit queue is completely cleared, with over 1.186 million ETH still waiting to enter staking
3. Coinbase's Bitcoin premium index has turned positive again after 22 consecutive days in negative territory, currently at 0.01%, indicating that capital may be returning to the U.S. market
4. Wall Street giant Morgan Stanley has filed documents with the SEC to launch Bitcoin and Solana ETFs, accelerating its move into the digital asset space
2. The Ethereum staking exit queue is completely cleared, with over 1.186 million ETH still waiting to enter staking
3. Coinbase's Bitcoin premium index has turned positive again after 22 consecutive days in negative territory, currently at 0.01%, indicating that capital may be returning to the U.S. market
4. Wall Street giant Morgan Stanley has filed documents with the SEC to launch Bitcoin and Solana ETFs, accelerating its move into the digital asset space
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The value of ETH has not been diluted by L2 offloading.
Typically, the market assumes that L2s siphon off revenue from L1, but L2s offer institutions a 90% profit margin—this is the real driving force behind traditional financial giants (such as JPMorgan, Sony, etc.) abandoning their own private chains and instead joining the Ethereum ecosystem: profit-driven, not just technical belief. This is far more lucrative than merely building applications.
Specific example (Base chain): According to data from Token Terminal and Dune,
Daily revenue: Approximately $300,000 - $500,000 (Gas fees paid by users).
Daily cost: Approximately $5,000 - $20,000 (paid to Ethereum L1 for Blob fees).
Result: Gross margin has remained consistently at 90% - 95% or even higher over the long term.
#eth $ETH
Typically, the market assumes that L2s siphon off revenue from L1, but L2s offer institutions a 90% profit margin—this is the real driving force behind traditional financial giants (such as JPMorgan, Sony, etc.) abandoning their own private chains and instead joining the Ethereum ecosystem: profit-driven, not just technical belief. This is far more lucrative than merely building applications.
Specific example (Base chain): According to data from Token Terminal and Dune,
Daily revenue: Approximately $300,000 - $500,000 (Gas fees paid by users).
Daily cost: Approximately $5,000 - $20,000 (paid to Ethereum L1 for Blob fees).
Result: Gross margin has remained consistently at 90% - 95% or even higher over the long term.
#eth $ETH
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