0xCW Intern

Web3 Researcher | CoinW Research L1/L2, DeFi, market infrastructure, crypto-native apps. Focused on emerging narratives and market insights. Views my own.

[0xCW Intern @0xResearcher_cw]

Handle update ✅ From @0xDeckard_eth to @0xResearcher_cw. Still focused on Web3 research: markets, structure, and real-world adoption. More research, fewer narratives.🫡

[PANews丨APP全面升级 @PANewsCN]

中东的战火，从来不会停在新闻里。

石油断供→油价暴涨→通胀反弹→加息预期回来→资产重定价。每一步都有历史先例，每一步都在照常发生。

看懂传导链，比看懂战局更重要👇

[0xCW Intern @0xResearcher_cw]

AI is no longer just about thinking, it’s starting to actually do real-world work. Value is shifting from pure software to a combination of AI, hardware, and data-driven feedback loops. If this trend continues, the ultimate winner could become the 'OpenAI of the physical world.'

[0xCW Intern @0xResearcher_cw]

Physical AI might be the next big wave after AI agents, and it’s starting to show.

·YZi Labs just backed RoboForce with $52M. Crypto money is moving from tokens to real-world robots.
·RoboForce already has 11k+ robot demand.
·Deep ties with NVIDIA ecosystem.

[PANews丨APP全面升级 @PANewsCN]

😱比特币网络现罕见两区块重组，Foundry USA连挖7块终结竞争！

据https://t.co/66Bq3M2doV，比特币网络昨晚经历一次罕见的两区块重组。

事件起于高度941880——网络在此短暂分裂为两条竞争链：AntPool挖出区块941881，ViaBTC随后跟进941882；与此同时，Foundry USA也挖出了自己版本的941881与941882，双链陷入僵局。

随着Foundry USA接连挖出941883、941884、941885，依据"最长链"原则，AntPool与ViaBTC的区块最终被丢弃，沦为孤块，Foundry USA也由此完成从941879至941885的连续七区块。

值得注意的是，此次重组并非攻击或网络故障，而是比特币去中心化共识机制的正常运转。

单区块重组偶有发生，但两区块重组较为罕见——这意味着两条链之间的平局整整延续了一个完整区块周期。

[SolanaFloor @SolanaFloor]

NEWS: 🇺🇸Nasdaq and Talos have announced a partnership to integrate tokenized collateral across traditional and crypto markets. The move enables institutions to manage onchain and traditional assets within a unified risk, trading, and compliance framework.

[AB Kuai.Dong @_FORAB]

去年收益最高的黄金、白银等贵金属资产

现已抹去今年全部的涨幅，并出现急速下跌行情

[0xCW Intern @0xResearcher_cw]

5/ This shift is unlocking new opportunitys: the infrastructure layer around treasury management. Key areas to watch include on-chain asset management protocols, treasury management tools, and institutional-grade custody and risk services, all of which will power the next growth.

[0xCW Intern @0xResearcher_cw]

1/ The easy money phase of crypto treasury is ending.
Early on, just holding BTC was enough to get a valuation premium. Now? Not anymore.

· Back then: Scarcity + first-mover advantage = hype + higher stock price
· Today: Everyone is doing it, competition is real

[0xCW Intern @0xResearcher_cw]

4/ Shift may move toward safer assets like stablecoins, RWA, and low-volatility yield strategies. Crypto treasury is becoming both cycle-driven and strategy-driven: in the short term they follow market sentiment. In the long term success depends on execution and asset allocation.

[0xCW Intern @0xResearcher_cw]

4/ Crypto treasury can boost valuation in the short term, but it also turns the stock into a high-beta crypto play.

This is the end of this thread.

[0xCW Intern @0xResearcher_cw]

1/ Not all crypto treasury strategies are equal,
and the market reaction can get crazy, especially with volatile assets. When companies move beyond BTC/ETH into altcoins or memecoins, volatility explodes. The market loves the story, but quickly reprices the risk.

[0xCW Intern @0xResearcher_cw]

3/So what actually matters?
· Size of holdings
· Asset type (BTC vs memecoins 👀)
· Transparency
· Core business stability

That’s why market reactions vary a lot between companies. Same “crypto treasury” narrative but very different outcomes.

[Murphy @Murphychen888]

“物极必反” 这一自然规律放到金融市场也一样有效。

在3月2日的推文中，我们看到”投资者信心指数“出现了一个并不常见的“极端负值”。

在历史上但凡能市场情绪能低落到如此程度的，此后要不迎来一段反弹行情，要不实际上已距离熊底不远了。

虽然，时至今日我们仍然不知道当前是否就属于后者，但至少”反弹“是看到了。

与此同时，信心指数正随时间推移不断的向零轴靠近。只要站上零轴，即表示熊市结束。

我们可以做个不那么严谨的测算：如果此后在没有任何意外导致中断的前提下，按近10天的平均速度，回到零轴大约还需要 —— 47天！

我知道，这样的计算可能并不具备任何实际意义。因为往往都是“不出意外的话意外就要出现了......”

但可以给我们自己一点信心，
比特币的世界，从来没有永夜！
当第一缕阳光撕开黑暗时，迷雾终将散尽。

[远山洞见 @Yuanshan0626]

嗯，这两件事，同时发生在同一条链上

ETH的链上活跃度刚创了历史新高
但 ETH 的价格半年跌了30%

CryptoQuant昨天发了一份周报，我翻了一下，有几个数字很反直觉

2月ETH日活地址接近200万，超过了2021年牛市巅峰。 智能合约调用量每天超过4000万次，也是历史最高。 Token转账笔数，同样创了纪录。

估计很多人可能心想：这不对啊。用的人比牛市还多，价格应该飞才对

翻了一下2018和2021的数据。那两轮周期里，链上活跃度涨，价格几乎同步涨。 这是市场默认的因果关系：用的人多 → 需求大 → 价格涨

但这次，这个关系断了
CryptoQuant的散点分析直接显示：当前数据点落在「高活跃 + 低价格」的区间里。链上使用量的增长，已经解释不了ETH的定价了

解释不了的原因，藏在钱的流向里。
ETH在交易所的流入速度比BTC快，这意味着更多人在卖。 ETH一年期实际资本化变化率转负了，净流出状态。

但最离谱的不是价格跌，而是ETH连自己生态的钱都没赚到。DefiLlama数据，ETH过去30天手续费收入大概$1030万，排第三，排在Tron和Solana后面。

协议收入？$122万，排第五。 它自己的L2 —— Base，协议收入是ETH主网的三倍

儿子比爹赚得多。这就是EIP-4844的副作用

L2越便宜，用户越多，但主网能捕获的价值越少。ETH变成了一条「越繁荣越不赚钱」的链

这可能是加密史上第一次：一个资产的使用量和价值捕获能力，走向了完全相反的方向

上次出现类似的脱钩是2019年初。那时候ETH在一二百美元附近，链上活跃地址大约120万，市场完全不看好。后来的涨幅大家都知道了

但2019年的脱钩，是因为���场情绪滞后。 这次的脱钩，可能是真的，价值真的在从L1往L2迁移

说实话我不知道这次ETH到底是被严重低估了，还是价值捕获的逻辑真的变了

但每次「所有人都不看好 + 链上数据在变好」的组合出现，历史上的胜率好像都不低

不是说一定会涨。是说，如果你要下注，赔率在这边

[机灵的杰尼君🔶BNB @Meta8Mate]

自从熊市之后，好久没关注BTC ETF数据了，印象中一直处于净流出状态。

刚才一看，难得本周BTC ETF整体净流入$5.68亿，听起来不错。

但昨天一天，就净流出$3.49亿。

$65,000算是当前的关键支撑位，若ETF资金持续净流出，下探$62,000-63,000的风险不小。

到底是谁在卖这么有价值的数字黄金！？

[0xCW Intern @0xResearcher_cw]

Unlike oil or equities, these markets directly quantify event probabilities, turning the conflict into a continuous, measurable risk path well before traditional markets react.

[0xCW Intern @0xResearcher_cw]

On Polymarket, U.S./Israel strike-Iran contracts surged, totaling $500M+, with $90M traded on the day of the first airstrike, it's the largest geopolitical market in platform history.

[0xCW Intern @0xResearcher_cw]

Opinion markets decomposed the conflict into military actions, leadership, regime stability, and ceasefire outcomes, enabling parallel, real-time risk pricing.