lyrichu
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mNAV broke below 1: What is happening with these 'coin stocks'?
mNAV breaking below 1 indicates that the market is no longer willing to pay a premium for the narrative of these 'coin stocks', and has even started to discount them.
In other words: a lot of funds would rather buy BTC / ETH or ETFs directly, and do not want to pay extra to buy 'shell version' coin stocks, and even believe that these companies themselves may 'drag behind'. #MSTR #BMNR #币股
mNAV breaking below 1 indicates that the market is no longer willing to pay a premium for the narrative of these 'coin stocks', and has even started to discount them.
In other words: a lot of funds would rather buy BTC / ETH or ETFs directly, and do not want to pay extra to buy 'shell version' coin stocks, and even believe that these companies themselves may 'drag behind'. #MSTR #BMNR #币股
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Stablecoins can be divided into three categories based on collateralization methods: fiat-collateralized (centralized), over-collateralized (decentralized), and algorithmic/partially collateralized.
Fiat-collateralized (centralized): Each stablecoin has a corresponding amount of fiat currency reserves as backing. Representative projects include Tether (USDT), USDC, etc., which are typically issued by enterprises and backed by reserves of currencies like the US dollar and Euro. For example, when there are 1,000,000 USDT in circulation, the issuing organization needs to hold reserves of 1 million US dollars.
Over-collateralized (decentralized): Collateralized by crypto assets, stablecoins are generated through over-collateralization via smart contracts. Representative projects include MakerDAO's DAI and Liquity's LUSD, among others. Users must deposit cryptocurrency worth more than the issued amount of stablecoins (usually 200% or higher) as collateral. These stablecoins operate completely transparently, managed by decentralized protocols, without the need to trust a single centralized entity.
Algorithmic/partially collateralized: These stablecoins automatically adjust token supply through smart contracts and algorithms to maintain their peg. Partially collateralized (fractional-algorithmic) stablecoins like Frax (FRAX) have some fiat or crypto collateral and also adjust collateralization ratios dynamically via algorithms; purely algorithmic models like the early TerraUSD (UST) rely entirely on other tokens within their system (like LUNA) for minting and redemption to stabilize. HAY, USDR, and others also fall under the broad category of algorithmic or derivative models.
Fiat-collateralized (centralized): Each stablecoin has a corresponding amount of fiat currency reserves as backing. Representative projects include Tether (USDT), USDC, etc., which are typically issued by enterprises and backed by reserves of currencies like the US dollar and Euro. For example, when there are 1,000,000 USDT in circulation, the issuing organization needs to hold reserves of 1 million US dollars.
Over-collateralized (decentralized): Collateralized by crypto assets, stablecoins are generated through over-collateralization via smart contracts. Representative projects include MakerDAO's DAI and Liquity's LUSD, among others. Users must deposit cryptocurrency worth more than the issued amount of stablecoins (usually 200% or higher) as collateral. These stablecoins operate completely transparently, managed by decentralized protocols, without the need to trust a single centralized entity.
Algorithmic/partially collateralized: These stablecoins automatically adjust token supply through smart contracts and algorithms to maintain their peg. Partially collateralized (fractional-algorithmic) stablecoins like Frax (FRAX) have some fiat or crypto collateral and also adjust collateralization ratios dynamically via algorithms; purely algorithmic models like the early TerraUSD (UST) rely entirely on other tokens within their system (like LUNA) for minting and redemption to stabilize. HAY, USDR, and others also fall under the broad category of algorithmic or derivative models.
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2025-10-28 BTC、ETH 及主流山寨最新走势与日内交易计划
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每天认识一个币之BNB #BNB
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#加密市场反弹
October 27, 2025 (Monday, UTC+8) Latest trends and intraday trading plans for BTC / ETH and mainstream altcoins
October 27, 2025 (Monday, UTC+8) Latest trends and intraday trading plans for BTC / ETH and mainstream altcoins
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$KAITO is really hard. It has been empty for two days and it can't fall down.
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$KAITO This should be stable, must short with low leverage, and pull the liquidation price high enough to defeat the dog dealer 🤣
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This dog kennel $KAITO has some skills, after finishing off the air force, they continue to fight the ground troops, but it is almost impossible to pull up to 2 to rescue those on the mountaintop.
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$KAITO is done, feels like Dogecoin is holding back something big, definitely going to spike around four or five in the morning, probably at least until 3, then a massive sell-off.
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$KAITO This dog dealer is really slow, he doesn't pull, he doesn't smash, he just picks the time of 5am when everyone is asleep and pulls hard, right?
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Good Luck
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Get Rich
汪
--
Bullish
#山寨季何时到来？ $BNB
The new function of the square is useless
It only has percentages, no data, so you don’t know the amount of funds
Then your deposit and withdrawal are all considered profit and loss
There is no contract
There is no difference between having it or not
The masters of the square should have seen the loophole at a glance
Adjustments were made quickly
Brothers, don’t believe it
And have you ever used the Xiaoan assistant in Binance? I think Binance should take Deepseek and do it by itself. If they get on the AI train, they will be so cool.
The AI in the currency circle is all fake AI. Binance’s AI is real AI and really useful.
I don’t know when Binance will launch AI applications.
Traffic and money are not Binance’s difficulties.
BSC ecology is too powerful
Independent market conditions when the market is not good
I heard that the whole Twitter is shouting about the BNB ecology. Is it true?
I don’t usually watch Twitter
BSC is going to be upgraded. You should have seen it. I won’t repeat it. I think it’s very good. They are all pain points. Very useful upgrade.
Recast the glory of BSC!
The great BNB launched the charge! !
Long live the great bull army! ! !
Are our good days finally coming?
Recently, I was really bored, so I posted red envelopes to increase my followers. The messages have always been 99+, which is hard to see, so I will read the position post of the day more every day. If there is something, please comment on the position post of the day, and I will read it.
The new function of the square is useless
It only has percentages, no data, so you don’t know the amount of funds
Then your deposit and withdrawal are all considered profit and loss
There is no contract
There is no difference between having it or not
The masters of the square should have seen the loophole at a glance
Adjustments were made quickly
Brothers, don’t believe it
And have you ever used the Xiaoan assistant in Binance? I think Binance should take Deepseek and do it by itself. If they get on the AI train, they will be so cool.
The AI in the currency circle is all fake AI. Binance’s AI is real AI and really useful.
I don’t know when Binance will launch AI applications.
Traffic and money are not Binance’s difficulties.
BSC ecology is too powerful
Independent market conditions when the market is not good
I heard that the whole Twitter is shouting about the BNB ecology. Is it true?
I don’t usually watch Twitter
BSC is going to be upgraded. You should have seen it. I won’t repeat it. I think it’s very good. They are all pain points. Very useful upgrade.
Recast the glory of BSC!
The great BNB launched the charge! !
Long live the great bull army! ! !
Are our good days finally coming?
Recently, I was really bored, so I posted red envelopes to increase my followers. The messages have always been 99+, which is hard to see, so I will read the position post of the day more every day. If there is something, please comment on the position post of the day, and I will read it.
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Happy Lantern Festival
首席操盘手
--
Happy Lantern Festival🎆
Brothers, I have made money early in the morning
Wait to watch the fireworks show, and take photos of the popular fireworks show for everyone
$BTC
{future}(BTCUSDT)
$ETH
Brothers, I have made money early in the morning
Wait to watch the fireworks show, and take photos of the popular fireworks show for everyone
$BTC
{future}(BTCUSDT)
$ETH
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Get Rich
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Get Rich
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Good Luck
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