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LAB: Custom two-way slaughterhouse by the whales, 270,000 retail investors get cut twice a day Originally thought LAB was a fast track to quick short-term wealth, but it turned out to be a slaughter bus run by the project team. Within one day, the price plunged from $25 to $5.8, then was forcibly pulled back to $15. Behind this roller coaster is the bloody reality of nearly 270,000 traders being harvested repeatedly. From the long-short data, it’s clear that the long-short ratio has steadily stayed above 1 for nearly a month, with retail investors clustering long positions for years. During the steady upward phase, many retail investors chased the hot rally by opening long positions, swarming in to ambush and wait for new highs, only to fall into traps pre-dug by the whales. The 24-hour liquidation report lays bare the truth of the harvest: total single-day liquidations across all coins reached 27.601 million USDT, with short liquidations hitting 19.402 million USDT and long liquidations only 8.199 million USDT. During the crash, retail investors heavily long at high prices were the first to be stopped out and liquidated en masse; when the price dropped near $5, many, seeing the collapse as inevitable, flipped to short to catch the top. The whales immediately violently pulled the price up, wiping out low-position shorts as well. The principal from both longs and shorts was fully pocketed by the whales, harvesting over 17.86 million in contract funds within 12 hours. Ultimately, this game was unfair from the start. The project team holds over 95% of circulating tokens, so price moves have nothing to do with market supply and demand. To crash the price, they release regulatory negative news, dumping at all costs to break every technical support, forcing panicked retail investors to cut losses at low prices and hand over chips; after absorbing the chips, they immediately start a rebound rally, wiping out all bottom-fishing shorts. Bollinger Bands, moving average supports—all are just props to fool retail investors under absolute market control. Many traders rely on candlesticks and long-short data to figure out entry points, unaware that the data itself is a reference for the whales’ harvesting. When retail investors cluster long, the price is smashed; when shorts concentrate, the price is pumped. In short, LAB has always been the project team’s on-demand ATM. The rise is bait to lure in fish, the crash is the sickle to harvest longs, and the rebound is the trap to eliminate shorts. Any ordinary retail investor who craves short-term volatility will sooner or later face the fate of two-way liquidation. $LAB

The scariest thing has happened: the main battlefield for trading MRVL is no longer on Nasdaq. The $62.4 billion market surge triggered by Jensen Huang's words is now crazier outside the US stock market. The latest data is shocking: MRVL's single-day trading volume on Hyperliquid reached $307 million, second only to the Nasdaq 100, making it the second most popular asset on the entire platform. Even more outrageous, this trading volume accounts for 0.98% of Nasdaq's actual trading volume. A crypto exchange established just two years ago is about to reach 1% of the global largest securities exchange's volume with just one US stock contract. This is no small matter; it's a massive liquidity migration, the walls of traditional finance are being breached. Why is everyone flocking to Hyperliquid to trade MRVL? The answer is simple: this is the real casino. Nasdaq has price fluctuation limits, T+1 settlement, only trades 6.5 hours a day, and is closed on weekends. After Jensen Huang's announcement, MRVL can only rise up to 32% in a day, leverage is capped at 2x, and you have to wait for market open to trade. But on Hyperliquid: Trading is 24/7 nonstop, you can open positions immediately after Huang's words; No price limits, daily moves of +50% or -30% are common; Up to 100x leverage, you can bet $1000 on $100,000 worth of price swings. Now, anyone who really wants to bet on MRVL won't open an account on Nasdaq. While Asian retail investors sleep on Wall Street, they've already pushed prices to extremes on Hyperliquid; when the NYSE opens, institutions can only passively take the positions. Pricing power is quietly shifting. 0.98% is just the beginning; the real disruption is yet to come. Many think less than 1% trading volume is negligible. But you must know, Hyperliquid's US stock contracts have been live for less than 3 months. Three months ago, this number was zero; three months later, it's 1%; what about three months from now? 3%? 10%? Previously, HYPE's volume surpassed Binance, and everyone thought it was an anomaly. Now MRVL has repeated the pattern; this is no anomaly, this is a trend. As long as an asset has enough consensus and volatility, Hyperliquid can attract all speculative funds from traditional markets with higher leverage, better liquidity, and longer trading hours. Today it's MRVL, tomorrow Nvidia, the day after Tesla. In the future, all the world's hottest assets and the largest speculative battlegrounds will be on Hyperliquid. To be honest, This madness definitely has bubbles and will crash. Trading US stocks with 100x leverage can wipe you out faster than crypto; one correction can liquidate you to zero. But you have to admit, the trend is set. The rules built over hundreds of years in traditional finance are no match for crypto's dimensionality reduction strike. While Wall Street is still debating extending trading hours or removing price limits, Hyperliquid has already torn down all restrictions, putting pure speculation right in front of everyone. MRVL is just the first sacrifice; it definitely won't be the last. Let's discuss in the comments: if you trade hot US stocks now, would you go to Nasdaq or Hyperliquid?

Don't talk about pocket money: SpaceX's 18,712 BTC is a golden pass given to CFOs worldwide A bunch of people are sarcastically saying: Isn't it just $1.2 billion worth of BTC? For SpaceX, valued at $1.75 trillion, it's just pocket change, useless. Big mistake. The key has never been how much they bought, but that they dared to put this holding in black and white in the S-1 prospectus filed with the SEC. This move carries more weight than BlackRock issuing 10 ETFs. First, understand: previous companies buying BTC were all self-indulgent In the past five years, countless calls for “corporate treasury bull market” have never succeeded. • MicroStrategy was purely a leveraged crypto shell; which serious company CFO would dare to follow it? • Tesla followed the trend in 2021, buying $1.5 billion, then cut losses and sold half, with Musk himself flip-flopping repeatedly, completely ruining the credibility of this matter. • The rest are miners, exchanges, insiders playing around, completely unrecognized outside the circle. So until today, 90% of publicly listed companies holding BTC are crypto-native companies. Apple, Microsoft, Google—these real cash-rich giants haven’t moved at all. Not because they don’t want to make this money, but because they don’t dare. Afraid the board will scold them for neglecting their main business, afraid of collective shareholder lawsuits, afraid auditors will issue qualified opinions, afraid regulators will cause trouble. But now, this hurdle is completely gone. This time, SpaceX has truly broken the sky. This is SpaceX, the largest tech IPO in human history, the future guaranteed global number one company, the standard answer in the eyes of CFOs worldwide. It says rockets can be reused, so the world builds reusable rockets; it says Starlink can make money, so the world builds low-earth orbit satellites. Now it says corporate treasuries should hold BTC. And it’s not just talk. The S-1 clearly states: as of March 31, holding 18,712 BTC, average cost $35,324, third-party custody, not a single coin sold from the end of 2024 until now. This is a legal disclosure; lying means jail. The SEC didn’t reject it or ask for deletion, which means official approval: a trillion-dollar tech company holding BTC as a reserve asset is completely legal and compliant. Next time someone asks “Can our company buy BTC,” don’t talk about inflation hedging or value storage. Just throw SpaceX’s S-1 in their face: The world’s most powerful company is doing it, the SEC approved it, do you know better than Musk? How big is the real incremental demand? More than all ETFs combined. BlackRock’s IBIT has been hyped for half a year, net inflow only $30 billion. But global non-financial corporate treasury cash totals $8 trillion. Even if only 1% of companies put 1% of their cash into BTC, that’s $80 billion, equivalent to two and a half IBITs. And this money is completely different from ETF hot money. ETFs rush in when prices rise and flee faster when prices fall. But corporate treasury money just sits there; once bought, it’s a multi-year base position. SpaceX’s own 18,712 BTC, held for two years doubling in value without moving, is the best example. Finally, a realistic note: Short term will definitely hype sentiment first. The market is crashing hard, ETFs have lost $1 billion over two days, the market is almost frozen. This news will definitely trigger a rally, pushing back to 70,000, blowing up some shorts. After the rally, there will definitely be a sell-off and profit-taking. But the real big move will come three months later. Just wait and see: First, a bunch of small and medium tech companies will follow suit and announce BTC purchases, Then giants like Apple and Microsoft will quietly start building positions, Finally, BTC will become a standard configuration in all major corporate treasuries. BlackRock’s ETF solves the question of whether institutions "can buy." SpaceX’s S-1 solves the question of whether institutions "dare to buy." Being able to buy and daring to buy are worlds apart. A bunch of people are waiting every day for a bull market trigger, waiting for some earth-shattering news. Actually, the trigger was lit long ago, hidden in a small corner of SpaceX’s 500-page S-1. Most people haven’t even seen it. #SpaceX拟于下周正式IPO，估值$1.75万亿

SpaceX $1.75 Trillion IPO: Musk Is Not Here to Raise Money, He's Here to Set the Rules for the World The biggest event next week is not the Federal Reserve meeting. It's SpaceX going public. A $1.75 trillion valuation, selling less than 5% of shares. Don't get it wrong, does Musk need money? Starlink earned $7.17 billion EBITDA last year, with a 63% profit margin, even more money-printing than the internet. This IPO won't use a single cent to cover losses; the sole purpose is to set an official benchmark price for hard tech for all humanity. This is the most outrageous IPO in history, bar none. Let's do the most straightforward math: The combined value of the world's top three defense giants: Boeing $171.6 billion + Lockheed Martin $120 billion + Northrop Grumman $76.1 billion = $367.7 billion. SpaceX alone is worth 4.76 times that. Last year, its total revenue was only $18.6 billion, with a net loss of $4.9 billion. But no one cares about that. The market is buying its rockets that have cut orbital launch costs by 90%, its unique global Starlink network, and 10.3 million users still doubling. The most ruthless move is that it also bundled the cash-burning xAI. While others scramble worldwide for GPUs, Musk uses Starlink's global edge data to feed AI models. This closed loop is unmatched anywhere else in the world. Why only sell 5%? Because selling more would lose control over the price. Normally, companies sell 15%-20% in an IPO. SpaceX refuses and only offers 5%, $75 billion, just enough for a few hundred billion-dollar asset managers to take a base position. The smaller the float, the stronger the pricing power. As long as it doesn't crash in the first three days, the $1.75 trillion valuation will be permanently locked in by the market. Once stabilized, the entire industry's ceiling will be overturned: Anthropic's previous $965 billion valuation will be void, starting at $1.5 trillion; OpenAI's $850 billion valuation will be a joke, next funding round will shout $2 trillion; All private companies touching space and AI will see valuations jump 50% collectively. This is Musk's real plan. He's not here to cash out but to be the central bank governor of global hard tech. He sets the price, and the whole industry must follow. Don't listen to analysts babbling about it being expensive; there's no worry about selling. All institutions are scrambling for allocations; even with money, you might not get any. The reason is simple: This is the only "space + AI" super asset available in the US stock market, with no substitutes. The float is tiny; if you don't buy, someone else will. Moreover, it's Musk's company. I bet it will surge to $2 trillion at open and close above $1.9 trillion. Those shouting valuation bubbles forgot Nvidia went from $1 trillion to $5 trillion in just 18 months? In this era, those who define the future set the price. Of course, losing is brutal. If Starship explodes once, the valuation will be halved immediately. But as long as these two milestones are met, $3 trillion is just a matter of time. One last thing: after this, stock trading won't be about financial reports or P/E ratios. It will be about who calls the shots. To be honest in the comments: do you think this is the biggest bubble of the century or the next Nvidia? #SpaceX拟于下周正式IPO，估值$1.75万亿

Jensen Huang's Trillion-Dollar Scepter: One Sentence Boosts $62.4 Billion, Market Finally Understands AI's Next Battlefield On June 2, the US stock market witnessed a historic pricing moment: Jensen Huang said just one sentence on stage at Computex, "Marvell will be the next trillion-dollar company," and MRVL's stock price skyrocketed, surging 32.52% in a single day. Its market value soared by $62.4 billion, jumping from $192 billion to $254.3 billion, marking the largest single-day gain in the company's history. This is not some speculative frenzy driven by retail investors; it is the global capital's collective submission to the highest pricing power in the AI industry. The market is never pricing Marvell itself; it is pricing Jensen Huang's judgment. When the absolute ruler of the AI computing ecosystem personally crowns a company, all valuation models and financial analyses must step aside. Why is Jensen Huang's one sentence more effective than ten financial reports? Many say this is "pump talk," that Nvidia is hyping its own investment. That's too shallow. You must understand, Jensen Huang's identity is no longer just Nvidia's CEO; he is the global AI industry's chief architect and standards setter. He defines what AI computing power is, sets the data center's technology roadmap, and defines the entire industry's division of labor and value distribution. In the past three years, he said GPUs are the core of AI, and Nvidia rose to a $5 trillion valuation; he said HBM is the bottleneck of computing power, and Micron and SK Hynix each surpassed a trillion-dollar valuation; he said generative AI requires optical interconnects, and Lumentum and Coherent tripled in six months. He is not predicting the future; he is creating the future. This time, he invested $2 billion in cash to buy into Marvell and personally endorsed the trillion-dollar target, essentially issuing an industry announcement to the entire market: In the next decade of AI infrastructure, computing power belongs to me, and connectivity belongs to Marvell. This is not an endorsement; this is a fiefdom. The Third AI War: Connectivity Is the Real Bottleneck Jensen Huang said something on stage that many overlooked: "When you split computing tasks across the entire data center, the truly indispensable factor is not computing power, but connectivity." This statement exposes the biggest lie in today's AI industry: We always think computing power is insufficient, but in reality, in a 100,000-GPU cluster, over 30% of computing power is wasted waiting for data transmission. AI has completed the first two stages: • Stage One: Single-GPU computing bottleneck, Nvidia dominates with GPUs • Stage Two: Memory bandwidth bottleneck, HBM and advanced packaging become hard currency • Stage Three: Cluster coordination bottleneck, connectivity is becoming the new choke point A GPT-5 level MoE model requires hundreds of thousands of GPUs working simultaneously, transmitting petabytes of data per second. Traditional Ethernet and copper cables can no longer keep up; next-generation technologies like 1.6T optical modules, silicon photonics, and CPO are essential. Marvell is the undisputed king in this arena. It is not an ordinary chip company; it holds the full set of AI connectivity trump cards: from 100T Ethernet switch chips, optical module core DSPs, to silicon photonics and custom ASICs, and is even the largest partner of AWS Trainium chips. Ten years ago, its data center business accounted for less than 10%; now it exceeds 75% and is growing at 40% annually. Jensen Huang knows better than anyone that the better Nvidia's GPUs sell, the scarcer Marvell's connectivity chips become. The future AI factory will be half Nvidia GPUs and half Marvell networks. Ecosystem Pricing Power: The Most Solid Moat Is Binding Others' Interests to Yours Many ask: Broadcom also makes switch chips, Intel has optical interconnects, so why Marvell? The answer is simple: Only Marvell is integrated into Nvidia's core ecosystem. The NVLink Fusion platform jointly launched by both parties is Nvidia's first-ever opening of its underlying interconnect protocol, allowing third-party chips to access Nvidia's entire ecosystem. This means cloud providers building AI clusters no longer have to buy Nvidia's full suite of equipment; they can use Marvell's switch chips and custom ASICs to seamlessly collaborate with Nvidia GPUs. This is a groundbreaking move. By opening its ecosystem, Nvidia turns Marvell into its "white glove," avoiding antitrust risks while firmly controlling the entire industry chain. Marvell gains Nvidia's traffic and standard endorsement, securing entry tickets to all AI data centers for the next decade. This is the terrifying power of ecosystem pricing: Jensen Huang doesn't need to force anyone to buy Marvell chips; as long as Nvidia GPUs keep selling and AI clusters keep being built, Marvell's orders will come automatically. The market's valuation of Marvell is essentially an option on Nvidia's future growth. As long as Nvidia's trillion-dollar empire stands, Marvell's trillion-dollar valuation is only a matter of time. Finally: Don't Underestimate Jensen Huang's Ambition Of course, no logic holds forever. If AMD opens a gap in the GPU market, if Broadcom overtakes in connectivity, or if Nvidia itself enters the network chip market, Marvell's story could abruptly end. But for now, all signals point in the same direction. Jensen Huang never speaks without confidence. When he said Nvidia would become a trillion-dollar company, no one believed him; when he said AI would change everything, no one believed him. Now, when he says Marvell will be next, the market chooses to vote with real money. Marvell's surge is just the beginning. It marks the official shift of AI investment's main line from computing power to connectivity. Next, the entire optical communication, switch chip, and silicon photonics industry chain will undergo a thorough value reassessment. Remember, in the AI era, the most valuable asset is not technology or products, but the words of the one who defines the rules. #黄仁勋：Marvell冲击万亿市值

Fatal signal! Core insiders of HYPE have started dumping, and the Grayscale ETF has become the last bait for offloading Just now, this news is 10 times more fatal to HYPE than the Loracle liquidation or a 7% plunge in the overall market. USDH deployers, the earliest key stakeholders in the Hyperliquid ecosystem who understand the project's bottom cards better than any institution or KOL, have started selling off. 12 hours ago, they unstaked 1.01 million HYPE tokens at once, worth $72.45 million; Of these, 200,000 were directly sent to the market maker Flowdesk, 120,000 transferred to Bybit, and 80,000 are currently listed for sale on Hyperliquid; The remaining 810,000 tokens hang like a Damocles sword over all the bulls, ready to crash down at any moment. Don't fool yourself, this is not "portfolio adjustment," this is a real exit. Many are still comforting themselves: "It's just a wallet transfer, not selling," "Grayscale is listing tomorrow, selling now is foolish." Big mistake. Have you ever seen a portfolio adjustment where tokens are directly sent to market makers? Have you ever seen a long-term holder transfer tokens to exchanges to list for sale? This is blatant dumping, no other explanation. What's even scarier is their identity: USDH is the native stablecoin of the Hyperliquid ecosystem, and its deployers are not outside crypto whales but core team affiliates who have been involved since day one, holding massive early stakes and knowing all internal data. They understand HYPE better than Loracle, better than Grayscale, better than all of us combined. Their choice to dump the day before the Grayscale ETF listing says it all: In their eyes, the current price has fully priced in all ETF benefits, and is even overvalued. The Grayscale ETF has become the best bait for offloading. These days, the whole market is buzzing with "Grayscale HYPG listing tomorrow, HYPE will surge to $100," with countless retail investors rushing in to catch the falling knife, waiting for institutions to pump the price. But have you ever thought about this: Why would institutions pump your bags? Why do all the good news only come after the price has already increased 10 times? The answer is simple: all the good news is prepared for offloading. Loracle going long is a smokescreen, the Grayscale ETF listing is the exit window. While all retail eyes are on tomorrow's opening, waiting for a surge, the real whales have quietly handed over their chips to you today. You think you are ambushing good news, but you are the one being ambushed. You think institutions will catch your bags, but you are the fool catching theirs. The 810,000 tokens hanging like a sword above, HYPE's rally is over. Currently, HYPE's market is propped up only by retail sentiment and short covering. Once the ETF launches tomorrow and the good news is realized, if no new funds come in to catch the bags, those 810,000 HYPE tokens for sale will smash the market. HYPE's liquidity depth cannot withstand such heavy selling pressure; by then, forget $100, even holding $50 will be a challenge. As I said before, coins that rise wildly against the market can fall just as fiercely. It can surge 10x during a market crash and drop 90% when the market stabilizes. When the core insiders start fleeing, no narrative can save it. Finally, a word of advice to everyone still holding HYPE: Tomorrow's Grayscale ETF listing is your last chance to escape. Don't hold any illusions, don't wait for $100, don't think it will rally again. The insiders have fled; if you don't leave now, you'll be left standing guard on the mountaintop.