Holdings
24H Liquidation
BTC ETF 7D net inflow
ETH ETF 7D net inflow
ETH 7D Inflation Rate
Crypto Index
According to BlockBeats, on August 25th, legendary investor Stanley Druckenmiller directed his criticism at the U.S. Treasury Department. In a Wall Street Journal commentary published on August 25th (Beijing time), he criticized the Treasury's recent expansion of long-term Treasury bond repurchase programs, arguing that while seemingly aimed at liquidity management, it would actually weaken the bond market's ability to price U.S. fiscal risks.
The backdrop to this event is the recent sustained high yields on long-term US Treasury bonds, with the 30-year yield having previously reached a 19-year high. On August 19th, the US Treasury announced it would increase the size of its repurchase operations of 10- to 30-year Treasury bonds from $2 billion per transaction to at least $4 billion, covering the period from September 9th to November 4th. The official explanation was to support liquidity in the long-term Treasury bond market, but Druckenmiller argues that at the time, there were no abnormal situations such as auction failures, chaotic trading, or forced deleveraging. The Treasury's decision to increase repurchases at this time could easily be interpreted by the market as an attempt to suppress long-term yields.
In his view, rising yields are a warning from the bond market about the state of US finances. Currently, US inflation remains above target, unemployment is near full employment, the federal deficit is about 6% of GDP, government debt has exceeded $40 trillion, and net interest payments are rising rapidly. In this environment, rising long-term yields are not unexpected, reflecting investors' demand for higher compensation to cover the risks of fiscal deficits, debt expansion, and inflation stickiness.
Druckenmiller's real concern is that continued Treasury intervention in long-term bond yields will weaken Washington's pressure to maintain fiscal discipline. Lowering financing costs reduces the urgency to cut deficits, control welfare spending, and adjust the debt path. Furthermore, if the Treasury buys long-term bonds but finances them through short-term Treasury bills, the market might perceive it as a Treasury version of "mini-quantitative easing."
This is not an abstract debate in financial markets. Recently, US stocks, especially AI and highly valued tech stocks, have been extremely sensitive to long-term interest rates. Rising yields will increase the discount rate, compressing the valuation of growth stocks; while temporarily suppressing yields through policy tools may encourage risk assets to continue trading on expectations of further easing. Druckenmiller warns that if the market believes the government is maintaining a certain yield level, traders will repeatedly test the policy floor, potentially leading to greater volatility in the bond market.
His proposal is quite straightforward: let the bond market determine the government's borrowing costs while addressing fiscal issues head-on, including reducing the primary deficit, gradually reforming the welfare system, and managing debt more responsibly. Liquidity tools can buy time, but cannot replace fiscal adjustments. For the current market, US Treasury yields have shifted from a macroeconomic variable to a core constraint on risk asset pricing. How the Treasury handles long-term interest rates will continue to influence the trading direction of US stocks, gold, the US dollar, and crypto assets.
It's worth noting that Stanley Druckenmiller is a mentor figure to the current US Treasury Secretary. Bensent joined Soros Fund Management's London office in 1991, when Druckenmiller was a key trader/management figure at the fund. Both later participated in the famous 1992 trade shorting the British pound. Bensent himself has said that Druckenmiller invited him to join Soros Fund, and that Stan is his "true business mentor."
Another point to note is that the Duquesne family office of Stanley Druckenmiller disclosed in its latest 13F filing that it has established a new position in HYPE treasury stock Hyperliquid Strategies Inc. (PURR), holding 2.9415 million shares, with a market value of approximately $23.15 million.
According to BlockBeats, on August 25th, OKX launched a "VIP Upgrade Season" event, allowing eligible users to directly upgrade to VIP6. The initial validity period is 2 months, with subsequent assessments conducted every 2 months for renewal, up to a maximum of 6 months. After upgrading, users can enjoy exclusive VIP benefits such as discounted transaction fees and automatic earning. The event is open to existing OKX users, VIP users from other platforms, and users who have received upgrade invitations.
In addition, users who become OKX VIPs between July 28 and September 30, 2026 can also sign up for the "New VIP Welcome Gift Pack" event, where they can enjoy an annualized return of up to 25.8% on RLUSD and receive exclusive VIP gifts.
According to BlockBeats, on August 25th, Lookonchain monitoring showed that the BTC holdings of Strategy, the Bitcoin treasury company under Michael Saylor, have improved significantly in the past week: previously, the unrealized loss exceeded $9.5 billion, but it has now turned into an unrealized profit of over $4.7 billion.
According to an official announcement from BlockBeats on August 25, Binance will launch U-margin perpetual contracts for SKUUUSDT, SKDDUSDT, RAMUSDT, DJTUSDT, and MRNAUSDT in batches from 17:00 to 17:20 (UTC+8) on August 25. The underlying assets involve traditional financial assets such as Hynix Leveraged ETF, DRAM Theme ETF, Trump Media Technology (DJT), and Moderna (MRNA).
All contracts are settled in USDT, supporting 24/7 trading, multi-asset trading, and up to 20x leverage; funding rates are settled every 8 hours, with a maximum and minimum rate of +2% and -2%, respectively.
Top Funding Rate
PF_HFTUSD | 3.8601%4h |
PI_XRPUSD | 2.0401%4h |
PF_MNTUSD | 0.6310%4h |
PF_MOGUSD | 0.5789%4h |
BNCUSDT | 0.4982%8h |
Long/Short Ratio
BTC | 1.07 | |
ETH | 1.01 | |
SOL | 1.09 | |
XRP | 1.04 | |
DOGE | 1.10 |
Global Index
ChainData
# | Name | Price | Change(24H) | Change(7D) | Market | Trading Volume/Amount | Circulating Supply | 7D Price Trend | ||
|---|---|---|---|---|---|---|---|---|---|---|
1 | BTC Bitcoin | $80503.1 | +4.70% | +25.37% | $1,616.69B | $40.58B 511.50KBTC | ![]() 95.6% | |||
2 | ETH Ethereum | $2501.93 | +2.65% | +31.90% | $295.76B | $188.35B 6.84METH | ![]() ∞ | |||
3 | USDT Tether | $1 | +0.01% | +0.01% | $182.63B | $990.51M 1.03BUSDT | ![]() ∞ | |||
4 | XRP Ripple | $1.5204 | +2.84% | +52.78% | $95.47B | $39.91B 25.12BXRP | ![]() 62.7% | |||
5 | BNB Binance ... | $716.2 | +2.82% | +18.65% | $95.35B | $1.63B 2.13MBNB | ![]() 66.6% | |||
6 | USDC USD Coin | $1.0003 | +0.03% | -0.05% | $73.78B | $17.08B 17.08BUSDC | ![]() ∞ | |||
7 | SOL Solana | $101.82 | +8.13% | +34.25% | $59.43B | $20.37B 59.59MSOL | ![]() ∞ | |||
8 | TRX TRON | $0.3445 | +0.18% | +3.82% | $32.49B | $432.38M 1.26BTRX | ![]() ∞ | |||
9 | STETH Lido Sta... | $2494.26 | +2.46% | +31.53% | $23.96B | $5.02M 2.02KSTETH | ![]() ∞ | |||
10 | HYPE Hyperliq... | $81.079 | +1.51% | +36.69% | $18.06B | $340.27M 4.26MHYPE | ![]() 22.2% | |||
11 | GDT Golden D... | $0.1463 | -2.07% | -2.49% | $14.64B | $12,718.18 86.91KGDT | ![]() 100% | |||
12 | ZEC Zcash | $850.98 | +1.86% | +66.83% | $14.39B | $964.07M 937.98KZEC | ![]() 80.4% | |||
13 | DOGE Dogecoin | $0.09243 | +0.30% | +32.13% | $13.68B | $2.61B 23.49BDOGE | ![]() ∞ | |||
14 | SDG ShineDog... | $10.09 | -7.86% | +101.80% | $10.09B | $22,487.52 2.18KSDG | ![]() 100% | |||
15 | ALPHA AlphaRad... | $0.994 | -40.29% | -78.43% | $9.89B | $9.35M 6.81MALPHA | ![]() 100% | |||
16 | USDS USDS Sta... | $1.0003 | +0.03% | -0.05% | $9.74B | $2.25M 2.25MUSDS | ![]() ∞ | |||
17 | WBTC Wrapped ... | $80987.2 | +4.99% | +25.67% | $9.35B | $56.13M 699.70WBTC | ![]() ∞ | |||
18 | WBETH Wrapped ... | $2760.06 | +2.60% | +31.74% | $9.29B | $9.95M 3.61KWBETH | ![]() ∞ | |||
19 | LINK ChainLin... | $11.774 | +2.56% | +24.87% | $8.82B | $2.52B 211.39MLINK | ![]() 74.8% | |||
20 | WBT WhiteBIT... | $74.42 | +3.17% | +34.64% | $8.77B | $171.11M 2.32MWBT | ![]() 29.5% | |||
21 | LEO UNUS SED... | $9.357 | +0.28% | -1% | $8.59B | $2.35M 252.38KLEO | ![]() ∞ | |||
22 | ADA Cardano | $0.2262 | +2.86% | +30.14% | $8.49B | $684.12M 1.83BADA | ![]() 83.3% | |||
23 | XMR Monero | $444.26 | +6.67% | +6.95% | $8.37B | $117.87M 267.24KXMR | ![]() ∞ | |||
24 | XLM Stellar | $0.1988 | +1.95% | +28.20% | $6.88B | $428.58M 2.06BXLM | ![]() 69.2% | |||
25 | BCH Bitcoin ... | $279.4 | +3.75% | +37.22% | $5.61B | $2.56B 8.45MBCH | ![]() 95.6% | |||
26 | WETH wETH | $2501.31 | +2.63% | +31.98% | $5.14B | $24.75M 9.89KWETH | ![]() ∞ | |||
27 | DAI Multi-co... | $0.9853 | +0.00% | +0.00% | $4.53B | $59,915.91 60.57KDAI | ![]() ∞ | |||
28 | TON Toncoin | $1.67 | +0.00% | +0.00% | $4.3B | $7.05M 4.28MTON | ![]() ∞ | |||
29 | GRAM Gram (pr... | $1.481 | +0.74% | +12.79% | $4.09B | $42.4M 28.72MGRAM | ![]() ∞ | |||
30 | LTC Litecoin | $52.52 | +1.05% | +18.44% | $4.09B | $1.29B 9.47MLTC | ![]() 92.3% | |||
31 | HBAR Hedera | $0.08183 | +3.38% | +24.56% | $3.48B | $118.33M 1.49BHBAR | ![]() 85% | |||
32 | SUI Sui | $0.8238 | -0.46% | +27.30% | $3.36B | $10.44B 12.19BSUI | ![]() 40.7% | |||
33 | SHIB Shiba In... | $0.0{5}5684 | +13.68% | +29.32% | $3.35B | $206.32M 37.11TSHIB | ![]() 100% | |||
34 | AVAX Avalanch... | $7.679 | +2.30% | +21.92% | $3.32B | $328.82M 37.83MAVAX | ![]() 60% | |||
35 | USD1 World Li... | $0.9999 | +0.00% | +0.01% | $2.99B | $711.78M 711.79MUSD1 | ![]() 100% | |||
36 | CRO Cronos | $0.06116 | -1.17% | +32.40% | $2.96B | $15.17B 244.76MCRO | ![]() 48.5% | |||
37 | XAUT Tether G... | $4623.9 | +0.12% | +5.59% | $2.83B | $417.34M 49.15KXAUT | ![]() ∞ | |||
38 | PYUSD PayPal U... | $0.9997 | -0.02% | -0.07% | $2.8B | $9.52M 9.53MPYUSD | ![]() ∞ | |||
39 | UNI Uniswap | $4.433 | -0.81% | +35.85% | $2.76B | $5.67B 1.27BUNI | ![]() 62.3% | |||
40 | TAO Bittenso... | $244 | +3.78% | +26.62% | $2.75B | $228.59M 962.99KTAO | ![]() 53.7% | |||
41 | NEAR NEAR Pro... | $2.004 | +0.04% | +21.67% | $2.61B | $6.75B 3.35BNEAR | ![]() ∞ | |||
42 | M MemeCore | $1.1412 | +2.71% | -0.35% | $2.59B | $3.84M 3.38MM | ![]() 22.7% | |||
43 | OKB OKB | $117.85 | +1.98% | +20.88% | $2.48B | $66.35M 573.50KOKB | ![]() 100% | |||
44 | AAVE Aave | $130.2 | -7.97% | +47.31% | $2.01B | $6.48B 49.12MAAVE | ![]() 96.4% | |||
45 | PAXG PAX Gold | $4631.5 | +0.04% | +5.44% | $2B | $161.01M 35.11KPAXG | ![]() ∞ | |||
46 | ONDO Ondo | $0.3946 | +6.01% | +19.14% | $1.92B | $206.01M 495.17MONDO | ![]() 48.7% | |||
47 | PUMP Pump.fun | $0.004897 | -2.36% | +76.27% | $1.92B | $213.38M 43.95BPUMP | ![]() 39% | |||
48 | RIPPLEAI Ripple A... | $0.6245 | +4.49% | +37.23% | $1.87B | $88,987.21 151.53KRIPPLEAI | ![]() 100% | |||
49 | PEPE Pepe | $0.0{5}4248 | +6.20% | +65.67% | $1.78B | $750.18M 165.25TPEPE | ![]() 100% | |||
50 | MNT Mantle | $0.5238 | +1.57% | +19.34% | $1.73B | $13.95M 26.76MMNT | ![]() 53.1% | |||
51 | JLP Jupiter ... | $4.4152 | +4.18% | +21.37% | $1.65B | $11,647.31 2.68KJLP | ![]() ∞ | |||
52 | SKY Sky Prot... | $0.0692 | +1.49% | +28.33% | $1.62B | $16.74M 244.66MSKY | ![]() 99.9% | |||
53 | WLFI World Li... | $0.05858 | +0.67% | -3.61% | $1.6B | $64.41M 1.11BWLFI | ![]() 27.3% | |||
54 | HTX HTX DAO | $0.0{5}1758 | -12.10% | -0.69% | $1.59B | $100.54M 57.16THTX | ![]() 89.8% | |||
55 | DOT Polkadot | $0.9176 | +0.85% | +24.89% | $1.56B | $91.24M 100.09MDOT | ![]() 80.9% | |||
56 | ENA ENA | $0.1566 | -5.76% | +89.97% | $1.54B | $530.02M 3.37BENA | ![]() 65.5% | |||
57 | WLD Worldcoi... | $0.4143 | +4.12% | +26.69% | $1.5B | $5B 12.06BWLD | ![]() 36.2% | |||
58 | USDD Decentra... | $0.9994 | +0.00% | -0.04% | $1.48B | $2.04M 2.04MUSDD | ![]() ∞ | |||
59 | BGB Bitget T... | $1.9626 | +3.47% | +17.21% | $1.37B | $15M 7.82MBGB | ![]() 35% | |||
60 | ICP Internet... | $2.465 | +2.83% | +8.35% | $1.37B | $48.23M 19.88MICP | ![]() ∞ | |||
61 | USDF Falcon U... | $0.996 | -0.02% | -0.02% | $1.34B | $492,439.02 494.39KUSDF | ![]() ∞ | |||
62 | BFUSD BFUSD | $1.0002 | +0.02% | +0.08% | $1.32B | $2.67M 2.67MBFUSD | ![]() ∞ | |||
63 | U United S... | $0.9996 | +0.02% | -0.06% | $1.29B | $98.7M 98.74MU | ![]() ∞ | |||
64 | ETC Ethereum... | $8.025 | +3.68% | +31.96% | $1.27B | $152.27M 19.33METC | ![]() 75% | |||
65 | WBNB Wrapped ... | $713.7751 | +2.66% | +18.30% | $1.27B | $4.55M 6.38KWBNB | ![]() ∞ | |||
66 | MCS Money Co... | $0.2527 | +0.00% | +0.00% | $1.26B | $0 0.00MCS | ![]() 100% | |||
67 | BTW Bitway | $0.4634 | +9.55% | +30.27% | $1.25B | $11.56M 27.48MBTW | ![]() 27.1% | |||
68 | POL POL (ex-... | $0.1168 | +9.51% | +46.94% | $1.25B | $101.79M 902.55MPOL | ![]() ∞ | |||
69 | RUBX RUBx | $0.01237 | +0.00% | +0.00% | $1.24B | $0 0.00RUBX | ![]() 100% | |||
70 | USDGO USDGO | $1.0002 | +0% | -0.07% | $1.19B | $3.91M 3.91MUSDGO | ![]() ∞ | |||
71 | ASTER Aster | $0.7002 | +3.44% | +16.52% | $1.16B | $123.21M 177.49MASTER | ![]() 20.7% | |||
72 | KCS KuCoin T... | $7.552 | +3.29% | +16.45% | $1.03B | $32.6M 4.34MKCS | ![]() 68.6% | |||
73 | BNSOL Binance ... | $114.8 | +8.09% | +34.58% | $1.03B | $2.7M 24.01KBNSOL | ![]() ∞ | |||
74 | JITOSOL Jito Sta... | $132.22 | +8.31% | +34.82% | $1.02B | $941,111.59 7.34KJITOSOL | ![]() ∞ | |||
75 | PI Pi Netwo... | $0.09057 | +1.60% | +4.81% | $1B | $6.41M 71.73MPI | ![]() 11.1% | |||
76 | QNT Quant | $66.15 | +3.10% | +17.91% | $963.22M | $5.1M 78.33KQNT | ![]() 99.5% | |||
77 | LIT Lighter | $3.4682 | -7.20% | +49.81% | $865.43M | $84.94M 25.47MLIT | ![]() 25% | |||
78 | GT Gatechai... | $8.13 | +5.44% | +20.98% | $864.91M | $3.58M 442.78KGT | ![]() 74.7% | |||
79 | ALGO Algorand | $0.09423 | +2.13% | +22.18% | $852.07M | $93.86M 206.81MALGO | ![]() 90.3% | |||
80 | NEXO Nexo | $0.8389 | +3.12% | +18.72% | $840.37M | $4M 4.83MNEXO | ![]() 100% | |||
81 | JST JUST GOV | $0.1021 | +1.79% | -4.97% | $834.75M | $21.31M 211.84MJST | ![]() 82.7% | |||
82 | KAS Kaspa | $0.02963 | +3.09% | +16.65% | $820.74M | $12.01M 407.92MKAS | ![]() 96.4% | |||
83 | ATOM Cosmos | $1.556 | -1.09% | +9.80% | $819.29M | $336.2M 173.93MATOM | ![]() ∞ | |||
84 | VVV Venice T... | $0.02261 | -1.74% | -59.38% | $811.08M | $15.59M 1.04MVVV | ![]() ∞ | |||
85 | LSETH Liquid S... | $2806.27 | +2.72% | +33.40% | $804.51M | $47,296.28 16.90LSETH | ![]() ∞ | |||
86 | RENDER Render N... | $1.533 | +3.65% | +21.95% | $795.01M | $41.28M 27.37MRENDER | ![]() 80.5% | |||
87 | JUP Jupiter ... | $0.2272 | +8.81% | +36.21% | $719.32M | $29.09M 135.70MJUP | ![]() ∞ | |||
88 | ARB Arbitrum | $0.09876 | -1.10% | +32.67% | $660.38M | $795.52M 8.05BARB | ![]() 66.8% | |||
89 | PENGU Pudgy Pe... | $0.01034 | +8.13% | +72.55% | $649.44M | $184.44M 18.84BPENGU | ![]() 70.7% | |||
90 | LBTC Lombard ... | $63000 | +0.00% | +0.00% | $645.88M | $0 0.00LBTC | ![]() ∞ | |||
91 | FIL Filecoin | $0.768 | +1.01% | +24.19% | $634.3M | $123.2M 161.10MFIL | ![]() ∞ | |||
92 | TRUMP Official... | $2.477 | -0.89% | +78.32% | $621.84M | $552.48M 227.43MTRUMP | ![]() 25.1% | |||
93 | ETHFI ether.fi... | $0.6046 | -5.02% | +22.76% | $615.84M | $60.9M 97.24METHFI | ![]() 101.8% | |||
94 | XDC XDC Netw... | $0.03039 | +4.97% | +13.35% | $606.5M | $13.26M 440.08MXDC | ![]() ∞ | |||
95 | FLR Flare | $0.006972 | -0.56% | +18.04% | $605.56M | $2.67M 382.85MFLR | ![]() ∞ | |||
96 | STABLE Stable | $0.02962 | +0.05% | -1.50% | $603.26M | $10.84M 370.03MSTABLE | ![]() ∞ | |||
97 | GFO GoodFund... | $0.0603 | -4.31% | -8.99% | $600M | $17,003.16 423.65KGFO | ![]() 100% | |||
98 | INJ Injectiv... | $5.931 | +13.66% | +46.48% | $594.85M | $127.28M 22.19MINJ | ![]() ∞ | |||
99 | METH Mantle S... | $2750.11 | +2.95% | +32.20% | $592.11M | $309,455.44 113.48METH | ![]() ∞ | |||
100 | CAKE PancakeS... | $1.7827 | +3.26% | +22.17% | $570.94M | $15.1M 8.60MCAKE | ![]() 80.2% |


























$1.23M
$3.08M

$1.25M



