News Heat Trend
Project Overview
Thesis is utilizing cryptocurrency and decentralized technology to build and fund products and protocols, with the aim of creating a decentralized, transparent, and privacy-respecting community ecology. Its projects include Keep (now Threshold) Network, a privacy protocol for public blockchains; Fold, for earning Bitcoin through purchases in both the physical and virtual worlds; Saddle, an open source, community-owned stablecoin swap protocol; and Tally Ho, a community-owned and operated cryptocurrency wallet.
Related news
UBS: Micron HBM Tighter Than Expected, NAND Short-Term Noise Does Not Alter Long-Term Buy Thesis
According to TechFlow Research, UBS noted in its August 10 research report that Micron's Q3 NAND contract price increase fell from an expected 28% to around 20%, but DRAM is tighter than expected. HBM4 and HBM4E pricing continues to exceed expectations; NVIDIA downgraded the HBM specifications for VR300 due to supply constraints, yet total HBM consumption in 2027 instead increased from 58.7 billion Gb to 61.5 billion Gb, and the HBM blended average price year-over-year increase was raised from 67% to 79%. Micron's 2027 HBM revenue is expected to reach $26.35 billion, with ASP rising from $20.03 per Gb to $28.48. UBS maintains a Buy rating with a target price of $1,625; the current stock price of $877 implies approximately 85% upside potential. DRAM supply tightness will last at least until Q2 2028; NAND short-term pricing pace slows but enterprise SSD demand offsets consumer-end weakness. YMTC is shifting some incremental capacity to DRAM rather than NAND, which will extend the NAND pricing cycle. UBS believes Micron's profitability is a structural reset, with cumulative free cash flow by 2028 expected to exceed $450 billion.
10x Research: Bitcoin's True Investment Thesis May Lie in Space Infrastructure and Decentralized Computing
10x Research released a report stating that the market generally believes Bitcoin's core value lies in hedging against currency debasement, but this is not its true investment thesis. The report argues that the core constraint facing decentralized currency is not monetary policy, but physical conditions, including energy, heat dissipation, and geographical jurisdictional limitations.The report points out that with the development of space infrastructure, the constraints of heat, electricity, and geographical limitations faced by data centers could be alleviated in orbital environments. The connection between SpaceX, Starlink, and Bitcoin may represent a long-term strategic layout centered around future infrastructure construction.10x Research believes that technologies such as satellites, encryption technology, and artificial intelligence can both promote the decentralization of power and potentially reinforce resource concentration. The world is competing around two sets of infrastructure systems.The report also compares Bitcoin with China's digital yuan, suggesting they represent different paths for digital infrastructure. It also notes that as populations gradually move away from traditional network systems, the business models of companies like Palantir may also be affected.
Standard Chartered: rsETH Security Incident Does Not Alter RWA Growth Thesis, Maintaining $2 Trillion Market Size Forecast
Standard Chartered Bank's latest report indicates that while the theft of KelpDAO's rsETH has severely impacted the DeFi ecosystem, it is insufficient to change the long-term growth trend of Real World Asset (RWA) tokenization. The bank maintains its forecast that the RWA tokenization market will grow from $35 billion in October 2025 to $2 trillion by the end of 2028, with the core drivers remaining the continued expansion of the DeFi banking system and stablecoin liquidity.Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, stated that this incident is more like DeFi being "bent, not broken," and could even serve as a significant turning point for the industry to move towards a more resilient structure. (The Block)