News Heat Trend
Project Overview
Depth is a safe and efficient stablecoin asset management protocol, based on the HECO Chain.
Bitget Launches Institutional-Grade CFD Liquidity Solution, Supporting Multi-Level Depth Aggregation and 100% STP Execution
Odaily News - Bitget has officially launched an institutional-grade CFD liquidity solution, targeting quantitative teams, proprietary trading firms, funds, brokers, and high-net-worth professional traders, supporting high-frequency trading, spot-futures arbitrage, and automated trading scenarios such as Expert Advisors (EA). As professional trading institutions continue to demand greater execution efficiency, liquidity, and low latency, this solution aims to provide a more stable and efficient execution environment for large-volume, high-frequency trading.On the execution and liquidity front, Bitget adopts a 100% STP (Straight-Through Processing) model, routing orders directly to external liquidity pools and aggregating multi-level market depth from global Tier-1 banks and non-bank market makers, thereby reducing slippage and market impact during large-order execution. Additionally, trading servers are deployed in core financial data centers such as LD4 in London and TY3 in Tokyo, supporting sub-millisecond order matching via dedicated lines and fiber-optic connections, and offering a FIX API to facilitate institutional clients' integration with existing trading systems, bridging tools, and liquidity aggregation platforms.In terms of fund management, client assets are segregated from platform operating funds, with independent custody accounts, compliance reviews, and third-party audit mechanisms enhancing asset management transparency. The launch of this institutional-grade liquidity solution further strengthens Bitget's CFD backend trading infrastructure, complementing its existing retail-facing products and covering a multi-tiered range of trading needs from retail traders to professional institutions.
DeFiLlama: Bitget Maintains Lead in Approximately 90% of TradFi Perpetual Contract Depth
According to DeFiLlama's latest "Tokenized Stock Research Report", tokenized stocks are becoming one of the fastest-growing sectors, with active market cap increasing from $814 million at the beginning of the year to $1.976 billion, a growth of over 140%. The report conducted a comparative analysis of the stock product architecture, market trading data, and liquidity performance of mainstream platforms including Binance, Bitget, Kraken, Bybit, Hyperliquid, and Ondo Finance. Data shows that in liquidity benchmark tests for the five stock spot markets of MSTR, SPY, QQQ, CRCL, and NVDA, Bitget's stock token rToken had a median bid-ask spread of only 0.83 basis points and maintained the deepest order book liquidity across all sample markets. In execution benchmark tests covering 36 stock perpetual contracts and 8 metal and commodity perpetual contracts, Bitget maintained a leading position in depth across approximately 90% of trading pairs. DeFiLlama noted that as the tokenized stock market continues to mature, liquidity and trade execution quality are becoming key differentiating factors in platform competition. With lower trading costs and deeper order books, Bitget provides a more efficient trading experience for institutional and retail users.
Elon Musk frequently comments on domestic AI models: praises Kimi K3 model again as impressive
: Yesterday, Dark Side of the Moon (Moonshot AI) released its latest open-source AI model, Kimi K3. It ranked first on the Frontend Code Arena test website with a score of 1,679, surpassing the Claude Fable 5 model. Following an evaluation of the K3 model by Artifacial Analysis, Elon Musk once again praised the Kimi model from Dark Side of the Moon, stating that the K3 model's benchmark performance is impressive.In March of this year, when Kimi published the research paper "Attention Residuals: Rethinking the Aggregation of Depth Direction," it received praise from Musk, who said, "Kimi's research work is impressive." Previously, he also stated that the Zhipu GLM model could surpass the Claude Mythos model (i.e., Fable 5) by Q1 2027. In response, Zhipu founder Tang Jie replied, "It won't take that long."
Nasdaq Selects Pyth for Market Data Distribution, Bringing TotalView Depth Order Book Data On-Chain
Nasdaq has announced the selection of the Pyth Network as its market data distribution channel, bringing its core product, Nasdaq TotalView, which includes depth market data and order imbalance information, onto the blockchain and institutional-grade data networks.According to the announcement, Nasdaq will join the Pyth Data Marketplace as a data publisher. This integration will enable its market data to be distributed through a single interface to on-chain protocols, institutional systems, and various software-driven financial applications. This marks the first time Pyth has carried native market data distribution from a major exchange.Nasdaq TotalView is its standard depth-of-market data product, covering the complete order book. It displays the order depth at each price level and market participant behavior, while also providing order imbalance data during the opening and closing auction periods.
Bitget Offers Free Access to US Stock L2 Depth Quotes for VIP Users
According to an official announcement, Bitget has launched US stock L2 depth quotes, supporting Nasdaq TotalView, Blue Ocean, and other multi-market data, covering US stock pre-market, regular trading, after-hours, and extended-hours sessions, operating 24/7. Users can view up to 40 levels of buy and sell order books, depth charts, and trade-by-trade details. Users with a trading level of VIP1 or above, or an asset holding level of VIP3 or above, can unlock this feature for free.
Delphi Digital: Only About 12% of Newly Listed Tokens on CEXs Since January Last Year Have Outperformed Their Issuance Price, Reflecting Market Depth Imbalance
Delphi Digital has released its "Token Market Status Report," indicating that the token market in this cycle has been suppressed by multiple structural issues, including token unlocks occurring on a fixed schedule regardless of project performance, protocol revenues failing to effectively flow back to token holders, and airdrops gradually evolving into sources of exit liquidity.The report shows that since January 2025, among all newly listed tokens on major centralized exchanges (CEX), if purchased on the listing day and held to the present, an average investment of $1,000 would have dwindled to approximately $500. The median decline is 82%, with only about 12% of tokens still trading above their issuance price, reflecting a market structure that prioritizes "listing quantity over quality."Regarding tokenomic design, the research points out that across more than 400 unlock events, within a sample of 33, 28 tokens significantly underperformed relative to Bitcoin in the three weeks before and after the unlock, resulting in an average excess loss of approximately 7%. Moreover, most unlocks occur within 30 days, making it difficult for the market to effectively absorb the supply shock.The report also notes that the long-standing industry issue of "missing value accrual" is beginning to change. An increasing number of protocols are starting to use "Fee Switch" mechanisms to return revenue to token holders. For example, Hyperliquid allocates nearly all its fees to buybacks, Uniswap is burning 100 million UNI tokens, Jupiter uses 50% of its fees for buybacks locked for three years, and Aave has passed a DAO-approved weekly buyback plan of $1 million.However, the report emphasizes that fee-based buybacks alone are insufficient to resolve supply pressure. For instance, the scale of buybacks for some projects still cannot offset the selling pressure from token unlocks, leading to a situation where "buybacks only offset inflation but fail to generate net buying pressure."Simultaneously, the structure of institutional capital is shifting. Institutional holdings of Bitcoin-related ETFs like IBIT have grown 62% year-over-year, with advisory channels increasing by 204% and sovereign wealth funds and endowments rising by 228%, while arbitrage-focused hedge funds continue to exit. Long-term capital, including BlackRock, Morgan Stanley, and Mubadala Investment Company, is increasing its allocation.The report concludes that in the next phase, more attractive token assets will simultaneously feature "revenue accrual mechanisms" and "supply release structures linked to protocol performance." However, the current market remains in the early stages of structural repair.
Related news
Bitget Launches Institutional-Grade CFD Liquidity Solution, Supporting Multi-Level Depth Aggregation and 100% STP Execution
Odaily News - Bitget has officially launched an institutional-grade CFD liquidity solution, targeting quantitative teams, proprietary trading firms, funds, brokers, and high-net-worth professional traders, supporting high-frequency trading, spot-futures arbitrage, and automated trading scenarios such as Expert Advisors (EA). As professional trading institutions continue to demand greater execution efficiency, liquidity, and low latency, this solution aims to provide a more stable and efficient execution environment for large-volume, high-frequency trading.On the execution and liquidity front, Bitget adopts a 100% STP (Straight-Through Processing) model, routing orders directly to external liquidity pools and aggregating multi-level market depth from global Tier-1 banks and non-bank market makers, thereby reducing slippage and market impact during large-order execution. Additionally, trading servers are deployed in core financial data centers such as LD4 in London and TY3 in Tokyo, supporting sub-millisecond order matching via dedicated lines and fiber-optic connections, and offering a FIX API to facilitate institutional clients' integration with existing trading systems, bridging tools, and liquidity aggregation platforms.In terms of fund management, client assets are segregated from platform operating funds, with independent custody accounts, compliance reviews, and third-party audit mechanisms enhancing asset management transparency. The launch of this institutional-grade liquidity solution further strengthens Bitget's CFD backend trading infrastructure, complementing its existing retail-facing products and covering a multi-tiered range of trading needs from retail traders to professional institutions.
Coinbase Delists 6 Non-USD Trading Pairs Including MINA and MASK to Consolidate Liquidity and Improve Market Depth
Odaily News: Coinbase has announced that it will suspend trading for 6 non-USD trading pairs on August 6, 2026, as part of efforts to enhance overall market health and consolidate trading liquidity.The adjustment involves the following trading pairs: LSETH-ETH, MINA-EUR, GRT-GBP, MASK-GBP, CHZ-USDT, and CRO-USDT.Coinbase stated that this delisting only affects the relevant non-USD trading pairs, and users of Coinbase Advanced Trade in eligible regions can still trade these assets through the USD order book.The exchange noted that regularly evaluating platform market performance is part of its operational process, and the adjustment aims to concentrate liquidity, enhance the trading experience, and improve order book depth.In recent years, mainstream crypto trading platforms have continued to improve trading efficiency and reduce the impact of liquidity fragmentation by cutting low-liquidity trading pairs and optimizing market structure.
DeFiLlama: Bitget Maintains Lead in Approximately 90% of TradFi Perpetual Contract Depth
According to DeFiLlama's latest "Tokenized Stock Research Report", tokenized stocks are becoming one of the fastest-growing sectors, with active market cap increasing from $814 million at the beginning of the year to $1.976 billion, a growth of over 140%. The report conducted a comparative analysis of the stock product architecture, market trading data, and liquidity performance of mainstream platforms including Binance, Bitget, Kraken, Bybit, Hyperliquid, and Ondo Finance. Data shows that in liquidity benchmark tests for the five stock spot markets of MSTR, SPY, QQQ, CRCL, and NVDA, Bitget's stock token rToken had a median bid-ask spread of only 0.83 basis points and maintained the deepest order book liquidity across all sample markets. In execution benchmark tests covering 36 stock perpetual contracts and 8 metal and commodity perpetual contracts, Bitget maintained a leading position in depth across approximately 90% of trading pairs. DeFiLlama noted that as the tokenized stock market continues to mature, liquidity and trade execution quality are becoming key differentiating factors in platform competition. With lower trading costs and deeper order books, Bitget provides a more efficient trading experience for institutional and retail users.
Elon Musk frequently comments on domestic AI models: praises Kimi K3 model again as impressive
: Yesterday, Dark Side of the Moon (Moonshot AI) released its latest open-source AI model, Kimi K3. It ranked first on the Frontend Code Arena test website with a score of 1,679, surpassing the Claude Fable 5 model. Following an evaluation of the K3 model by Artifacial Analysis, Elon Musk once again praised the Kimi model from Dark Side of the Moon, stating that the K3 model's benchmark performance is impressive.In March of this year, when Kimi published the research paper "Attention Residuals: Rethinking the Aggregation of Depth Direction," it received praise from Musk, who said, "Kimi's research work is impressive." Previously, he also stated that the Zhipu GLM model could surpass the Claude Mythos model (i.e., Fable 5) by Q1 2027. In response, Zhipu founder Tang Jie replied, "It won't take that long."
Nasdaq Selects Pyth for Market Data Distribution, Bringing TotalView Depth Order Book Data On-Chain
Nasdaq has announced the selection of the Pyth Network as its market data distribution channel, bringing its core product, Nasdaq TotalView, which includes depth market data and order imbalance information, onto the blockchain and institutional-grade data networks.According to the announcement, Nasdaq will join the Pyth Data Marketplace as a data publisher. This integration will enable its market data to be distributed through a single interface to on-chain protocols, institutional systems, and various software-driven financial applications. This marks the first time Pyth has carried native market data distribution from a major exchange.Nasdaq TotalView is its standard depth-of-market data product, covering the complete order book. It displays the order depth at each price level and market participant behavior, while also providing order imbalance data during the opening and closing auction periods.
Serenity’s In-Depth Analysis of Tech Giants’ AI Strategies: Amazon’s Path Forward Looks Promising; Microsoft and Meta Must Justify Their Capital Investments
Serenity, dubbed the “White-Haired Stock God,” stated in a post that the market should not interpret AI-related capital expenditures by large tech companies as “funds being siphoned away.” Rather, these investments are more accurately described as laying the groundwork for substantial future revenue growth or margin expansion. Serenity currently favors Amazon most highly, viewing it as one of the clearest examples of AI transformation among hyperscale cloud providers. Amazon may leverage large language models to achieve autonomous delivery, warehouse robotics, and automation across logistics and transportation—thereby lowering operational costs. Meanwhile, Amazon is also expanding its AWS compute infrastructure to drive revenue growth and, potentially, enter the AI chip sales market via its in-house Trainium chips. Serenity ranks Google second among tech giants in AI strategy, noting its AI capital spending aims primarily to defend the moat around its search business. Additionally, Google Cloud’s TPU-based compute advantage gives it chip commercialization potential comparable to NVIDIA’s GPUs. Regarding Microsoft and Meta, Serenity says both firms still need to demonstrate to the market the necessity of their massive AI capital outlays. Microsoft’s recent sentiment has been weak, partly due to delays in its in-house AI chip Maia and the impact on AI development pace stemming from its partnership with OpenAI.