Mike Kent

Candlesticks in my eyes. The numbers behind the headlines: markets, crypto, games, AI. Charts daily, receipts kept. Unbothered.

[Mike Kent @M_kent_onX]

The numbers behind the headlines: markets, crypto, games, AI.

Every number here has a source. Every chart is drawn to scale. When I get one wrong, I post the correction.

Capybara for scale #1: US debt $40.10T, US M2 $23.34T, all of crypto $2.81T.

[Mike Kent @M_kent_onX]

Thursday's Steam peaks for the GTA V family:

FiveM, the roleplay client that runs on GTA V: 181,511
GTA V Enhanced: 72,752
GTA V Legacy: 65,331

The mod out-drew both official versions of the game. GTA VI lands 19 Nov, and roleplay servers are the audience it has to win.

[Mike Kent @M_kent_onX]

The 10-year Treasury yield closed at 5.18% on Thursday, its highest since July 2007.

The S&P 500 the same day: -0.02%.

The capybara has decided to believe the stocks.

[Mike Kent @M_kent_onX]

@KobeissiLetter The invoices disagree so far: Nvidia's revenue was $96.22B in the quarter to July, up 106% on a year earlier, per its 10-Q.

The chip stocks are pricing a slowdown the last quarter doesn't show.

[Mike Kent @M_kent_onX]

@unusual_whales Nvidia's own 10-Q still needs it: $96.22B of revenue in the quarter to July, about $1.06B for each of its 91 days.

[Mike Kent @M_kent_onX]

@Polymarket Shoppers feel the part core inflation strips out. US CPI was 3.4% a year in August, and 2.4% without food and energy.

[Mike Kent @M_kent_onX]

@elerianm The activity side of that divergence is still holding: 22,000 fewer people filed new jobless claims than a year ago (197,000, week to 19 Sep).

[Mike Kent @M_kent_onX]

Where a stablecoin's dollar goes, in four boxes.

USD stablecoins: $312.21B. Under the US GENIUS Act, reserves sit in cash and Treasuries of 93 days or less, and issuers can't pay holders interest.

Bill yields up: issuer income up. The holder's: still zero.

[Mike Kent @M_kent_onX]

Anthropic committed about $11.6B to Akamai for cloud capacity, on seven-year terms.

$11.6B / 7 = $1.66B a year.
That's 39% of Akamai's entire 2025 revenue ($4.21B).
About $4.5M a day, weekends included.

Up to $9B more is possible. A CDN company just became an AI landlord.

[Mike Kent @M_kent_onX]

Ethereum's Wikipedia page had 19,609 views in August. The fewest in any month since December 2015, and -67% on a year earlier.

Before calling it apathy: the "Recession" page is near its lows too. Wikipedia says human pageviews fell about 8% as AI answers replace clicks.

[Mike Kent @M_kent_onX]

@MarioNawfal That table seats both of Nvidia's China inventory charges. Its 10-Q shows $4.5B after Washington required licences for the H20 in 2025, and $0.4B this year after Beijing restricted H200 sales.

[Mike Kent @M_kent_onX]

@Reuters Private data centers are going up in the US at a $75.2B annual rate (Census, July). Everything the federal government builds for itself: $40.4B.

Nearly double, not counting a single server.

[Mike Kent @M_kent_onX]

@IGN The remaster's toughest rival is the original. 11 years after launch, 9,503 people were still playing it on Steam this morning.

Steam owners get the remaster free on 29 Sep, per CD Projekt. Rematch on their own screens.

[Mike Kent @M_kent_onX]

@MarioNawfal The groceries $100 bought in February 2020 cost $131.73 in August, by the BLS's count.

And the bill is still rising: up 2.2% in a year.

[Mike Kent @M_kent_onX]

@Kalshi JPMorgan's latest 10-Q never once says token, crypto or Ethereum. It managed $1.33T in liquidity assets alone at the end of June.

At that scale, the Ethereum funds don't get a footnote.

[Mike Kent @M_kent_onX]

Daily Receipt #001: the US 10-year real yield closed at 2.85% yesterday. Highest since November 2008.

Over the past month it rose 0.47 points. Priced-in inflation moved 0.01.

So this bond selloff isn't an inflation scare. Lenders want a bigger real return to hold US debt.

[Mike Kent @M_kent_onX]

@KobeissiLetter Treasury bought back $4.08B of its own bonds today, and the 10-year went up anyway.

Federal debt: $40.07T. About 0.01% per bucket.

[Mike Kent @M_kent_onX]

Bond yields: climbing. Crypto: red. Fed hike odds: up.

The capybara, from the beach chair: unbothered.

[Mike Kent @M_kent_onX]

@Kalshi The spending side of that GW number: Amazon, Alphabet, Microsoft and Meta put $165B into capex in Apr-Jun alone, per their SEC filings.

That's about $1.8B a day, weekends included.

[Mike Kent @M_kent_onX]

@DeItaone Context for the ask: Brent closed at $114.89 on 22 Sep, up 92% from its 16 Dec low of $59.93 (FRED).

When Washington asks refiners to export less diesel, the price has already been doing the rationing.