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Odaily News - After Coinbase's Q2 results fell short of market expectations, the stock briefly dropped to a roughly two-and-a-half-year low on Friday morning before paring losses to around $150. Over the past year, the stock is still down approximately 57%.Wall Street generally believes Coinbase underperformed this quarter, but opinions differ on the cause: some analysts attribute it mainly to a weak crypto market environment, while others have begun to question whether the company's growth strategy beyond its trading business can deliver.JPMorgan stated that Coinbase's results reflect a "challenging crypto environment," with new products contributing limited value to the income statement. The bank lowered its December 2026 price target for Coinbase from $196 to $148, while maintaining an "Overweight" rating. JPMorgan believes the company faces pressure across multiple business lines, with weak trading volumes dragging down transaction revenue and subscription and services revenue also under strain.Bernstein, on the other hand, believes Coinbase's long-term strategy remains attractive, but investors want to see more compelling execution, particularly in new business areas such as prediction markets and tokenized stocks.Mizuho warned that Robinhood is emerging as the mainstream alternative for retail crypto trading. Overall, Coinbase is still viewed as an important representative of U.S. crypto compliance infrastructure, but its valuation recovery increasingly depends on proving it is more than just a crypto exchange reliant on trading cycles.
Odaily News, Strategy Executive Chairman Michael Saylor said at the company's Q2 earnings call that while the company has previously allocated nearly "100% of its funds to Bitcoin," it may adopt a combined strategy of holding both cash and BTC going forward. He stated, "Perhaps the best way to buy the most Bitcoin is not to buy the most Bitcoin immediately."TD Cowen and Benchmark both maintained their Buy ratings on Strategy following the Q2 earnings call. The two firms believe that the core goal of the company's current management has shifted toward bringing its STRC preferred stock price back to near par value, thereby restoring its ability to function as a financing tool.TD Cowen analyst Lance Vitanza said the most important takeaway from the call was management's strong focus on STRC. Company executives repeatedly emphasized that restoring STRC to par value is the core objective, and noted that despite recent price deviations in the security, institutional adoption continues to rise.Benchmark analyst Mark Palmer holds a similar view. He pointed out that Saylor and his team spent most of the 90-minute call focused on the same goal: restoring STRC to the $99–$100 range, making it once again the primary engine for the company to raise capital and purchase Bitcoin.
Odaily News, According to Onchain Lens monitoring, a Fidelity-linked wallet transferred 260,000 ETH (approximately $500 million) to 3 wallets that were first funded by Fidelity 6 months ago. The funds were split into 95,000 ETH (approximately $183 million), 87,000 ETH (approximately $167 million), and 78,000 ETH (approximately $150 million).
according to Lookonchain monitoring, a whale just deposited 1,060 BTC, worth $67.52 million, into Binance.
Odaily News: According to Onchain Lens monitoring, a Hyperliquid trader has a total of 360 liquidation records, with partial liquidations on BTC and SOL positions, amounting to a combined exposure of approximately $1.47 million. The realized losses are about $35,100, with a lifetime PnL loss of roughly $12.5 million.
Trader Doctor Profit stated that his current key positioning is the "Galactic Three", namely Circle, Coinbase, and ETH, believing that the three correspond to compliant stablecoin issuance, crypto asset custody and trading, and tokenization and smart contract infrastructure respectively, and are core targets in the reshaping of the financial system in this new cycle.
Odaily News: Data submitted by the FBI to a legislative committee shows that in 2025, losses related to cryptocurrency kiosks in Texas reached $56.8 million, involving 1,179 complaints, ranking first among all U.S. states. Nationwide, related complaints totaled 13,460, with reported losses surging 58% year-over-year to $389 million. Cryptocurrency kiosks accept cash and convert it into cryptocurrency, typically located at gas stations and convenience stores. According to Texas Tribune data, there are approximately 4,000 such machines in Texas. Scammers often trick victims into withdrawing cash from their bank accounts and depositing it into the machines. Jesse Saucillo, Deputy Commissioner of the Texas Department of Banking, stated that once funds are transferred out, recovery is nearly impossible, as the money typically flows to non-custodial wallets and then into mixers and other channels. He added that AI-generated impersonation content of police and state agencies has made phone-based scams more deceptive. AARP data shows that since 2023, around 30 U.S. states have enacted laws related to cryptocurrency kiosks. Indiana imposed a full ban on such machines in March, with Tennessee and Minnesota following suit. Texas House Committee Chairman Rep. Cole Hefner said the state will consider measures that go beyond the scope of regulation.
Odaily News: According to Onchain Lens monitoring, a newly created wallet has withdrawn 468.3 BTC from BitMEX, valued at approximately $29.88 million. This marks the first single withdrawal exceeding $10 million since BitMEX announced its closure.
Odaily News: According to Onchain Lens monitoring, a Hyperliquid trader deposited 1.5 million USDC before opening a short position of approximately $8.14 million, with cumulative profits of around $6.46 million. Major positions include a $2.37 million SPCX short with 2x leverage, a $1.3 million DRAM short with 2x leverage, a $1.11 million MU short with 2x leverage, along with several other short positions across multiple assets.
Odaily News: Investment research firm Morningstar stated in a report on July 30 that it has set Nvidia's fair value estimate at $280 per share, 44% higher than the current level of approximately $194. The firm believes that Nvidia's 17% decline since mid-May has begun to diverge from its fair value estimate.Morningstar also assigned Nvidia a "very high" uncertainty rating. The risks it listed include the possibility of hyperscale cloud providers developing their own AI hardware in the future, as well as related customers cutting spending in response to investor demands.Morningstar Senior Equity Analyst Brian Colello stated that the likelihood of strong AI capital expenditure in the near and medium term remains high, and Nvidia's growth prospects are being underestimated. He also noted that the stock appears to exhibit undervaluation characteristics.
Odaily News: According to Onchain Lens monitoring, a whale first transferred 500 BTC to a newly created wallet, then deposited the full amount into Binance approximately 23 minutes later.
"The Big Short" prototype Michael Burry disclosed his latest portfolio adjustments via his personal Substack account. On the short side, he further increased his short position on Micron Technology (MU), with an average entry price of approximately $880; continued to increase his short exposure to NVIDIA (NVDA), and added to his short position on the semiconductor ETF SOXX, with an average price of approximately $506, indicating that he maintains a generally cautious stance on the semiconductor sector overall.
CryptoQuant analyst Axel Adler Jr stated that data shows Bitcoin is shifting from short-term speculators to long-term holders. The share of Short-Term Holders (STH) has dropped to 23%, the lowest level since the bottoming phase from 2022 to 2023; meanwhile, the share of Long-Term Holders (LTH) is approaching historical highs.
Odaily News: Investor Mark Cuban and "The Big Short" investor Michael Burry have recently issued warnings about valuation risks in Nvidia (NVDA) and AI stocks. Cuban stated on X that the current AI capital cycle bears similarities to the dot-com bubble of the 1990s, arguing that Nvidia is playing the role the IPO market did back then, fueling continuous capital inflows by supporting customers' purchases of AI chips.Burry, meanwhile, has focused on the rising cost of Nvidia's credit default swaps (CDS), noting that the scale of the "circular financing" driven by Nvidia is expanding. He believes that some AI demand relies on financing support, and future revenue may be built on complex capital cycles.Earlier, Nvidia's stock price fell approximately 5% in a single day, erasing about $250 billion in market value. The IMF and the Bank for International Settlements have also previously flagged potential systemic risks from AI circular financing. However, Nvidia CEO Jensen Huang dismissed such criticism as "absurd." (TheStreet)
Odaily News [email protected] posted on the X platform that the options settlement data for July 31 shows that 149,000 BTC options expired, with a Put Call Ratio of 0.28, the max pain point at $64,000, and a notional value of $9.6 billion; 435,000 ETH options expired, with a Put Call Ratio of 0.63, the max pain point at $1,850, and a notional value of $830 million. Bitcoin fluctuated around $64,000 this week. As mentioned last week, the price range above $65,000 is a high-volume area formed during the early-year rally, and there is some resistance there.The U.S. stock market was quite volatile this week, but when U.S. stocks fell, funds did not flow into the crypto market, and the rebound did not drive the crypto market up either. Currently, capital inflows into crypto are limited, with trading volumes of some crypto-related U.S. stock products even surpassing many crypto assets, so conditions for an upward move are not in place. Looking at the main options data, 30% of options expired this week. On the call side, Gex is relatively dispersed, while on the put side, Gex is relatively concentrated. This month, BTC's PCR is only 0.26, with extremely low put open interest, while Ethereum's put open interest has remained relatively high.Overall IV has remained at a relatively low level for a quarter now. In Q3, we can observe rebounds when capital inflows occur. Crypto has been in an 8-month bear market, and trading attention in U.S. stocks has taken the lead. In the short term, some options can be sold, with the main trading focus placed on U.S. stocks.
Odaily News, Citrini analyst jukan stated on the X platform that Kioxia's Q1 operating profit was 1.27 trillion yen, while market expectations were 1.37 trillion yen. Kioxia will conduct a 1-for-3 stock split.
Odaily News On-chain analyst Ai Yi posted on platform X, stating that "those who drown are often skilled swimmers." She noted that Leopold Aschenbrenner expanded his fund 73-fold in 2 years and was hailed as a "genius stock picker"; however, within 1 month, the Bag saw a drawdown of 67%, with paper losses surpassing $5 billion, forcing him to sell a large portion of his holdings to repay loans. She also mentioned that just 1 day after cutting losses, the market rebounded, and the fund's heavily weighted stocks showed significant gains.
According to Onchain Lens monitoring, a Hyperliquid trader, after being liquidated for approximately $2.05 million on a SKHX long position 3 days ago, has again established a $4.95 million HYPE long position with 10x leverage. His main positions include a $10.04 million ETH long position with 20x leverage; a $4.95 million HYPE long position with 10x leverage; and additional long positions in META and other assets. The trader's cumulative historical losses amount to approximately $504,800.
Odaily News, According to Lookonchain monitoring, a trader spent $875 to buy 26.96 million MarsCoin, then sold 15.87 million MarsCoin for $314,000. The trader still holds 11.08 million MarsCoin, valued at $483,000. Total profit stands at $796,500, representing a 910x return.
Odaily News, according to Lookonchain monitoring, Changxin Storage has entered its 5th trading day and its price has risen above $8, with bulls currently holding the advantage in the long-short battle. One whale has shorted 2.9 million Changxin Storage tokens, valued at $23.54 million, currently facing a loss of $4.67 million and paying $1.42 million in funding fees; another whale has gone long on 1.63 million Changxin Storage tokens, valued at $13.27 million, currently holding a profit of $2.46 million and receiving $823,000 in funding fees.