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NodeStrategy drives a four-step flywheel with a 10% trading fee, with 90% of the funds going into the treasury for buybacks and token burns NODESTRAT, which theoretically increases as supply decreases. But this 10% tax can only occur in radFi/Bound, because Bitcoin Rune has no contract-based tax deduction, so external trades are fee-free, breaking the flywheel. Low trading volume, high tax burden, and limited buybacks prevent the price from rising through buybacks and supply reduction, causing NAV to be higher than market value but unable to be redeemed, resulting in a 0.46x discount.

CryptoQuant analyst Axel Adler Jr points out that Bitcoin has recently lost its structural bullish momentum, and the market has shifted to risk aversion. A rebound can only be confirmed once the Impulse indicator moves back above the zero line. Macro factors such as the US dollar index, 10-year US Treasury yields, and VIX dominate the market; if they enter a supplanting mode, on-chain data may also become invalid. At the same time, spot ETF capital flows are far below peak levels, and attention should be paid to the Coinbase premium index to assess genuine US buying activity.

According to ME News on April 18th (UTC+8), forecast market data shows that in the event of "Can the United States and Iran reach a permanent peace agreement before April 22, 2026?", the trading probability of the "Yes" option increased from 14.5% to 39.5%, a single-day rise of 25.0 percentage points.

Mars Finance News, May 21 — Global AI companies are accelerating their IPO processes, covering the A-shares, NASDAQ/New York Stock Exchange, and Korea's KRX markets. Among them, the U.S. stock market includes AI companies such as OpenAI, Anthropic, Databricks, Lambda, and others; the A-shares focus on storage and model companies like Changxin Technology, Suiyuan Technology, Yangtze Memory, Kunlun Chip, and Zhipu; the Korean market includes AI semiconductor and model companies such as Rebellions, DeepX, Upstage, FuriosaAI, and others. Currently, AI IPOs have expanded from foundational models to AI chips, storage, cloud computing, and AI.

⬛ FORTUNE AI QUANT | $BILL
🔲 Directional Bias: Bearish
⚡ Spot Synthesis: Price shows a steep decline while trading volume is elevated relative to recent average, indicating active selling pressure; fundamentals limited to a single ecosystem tag, offering little counterweight.
🩸 Leverage Profile: Open interest is substantial compared to the token's market size, and the funding rate is negative, implying that shorts are being paid by longs, which points to a bearish leverage environment; no long/short ratio or liquidation data provided.
📉 Narrative Catalyst: The token's association with the BNB chain ecosystem does not appear to be driving the current surge in volume; instead, the high volume accompanies a price drop, suggesting the narrative is not providing support at this time.

xAI announces its first command-line Agent tool Grok Build enters beta testing, now open to SuperGrok Heavy subscription users. Developers can use natural language to request tasks in the terminal; the tool first outputs an implementation plan, which is then manually confirmed before automatically modifying the code. To handle large projects, Grok Build employs concurrent sub-entity decomposition of main tasks, enabling parallel collaboration to complete delayed debugging, deployment optimization, and documentation updates. It natively supports deep work trees, headless mode, and opens a plugin marketplace, aiming to introduce multi-sub-entity collaboration in local development environments to reduce deviation risks in long-chain programming.

CryptoWorld News reports that, according to Whale Alert data, an unknown wallet has just transferred in 407,945,512 USDT, which is approximately $407.45 million based on the current price.

ME News reports that on May 22, the Pyth Network status page showed that the Pyth Core price feeds and the Sponsored Feeds on the Pythnet chain were down. The team has identified the root cause, and the Pythnet/Hermes components are being coordinated by validators to restart. The official statement says that Pyth Core Feeds and Sponsored Feeds are expected to be restored at 12:30 UTC today, after about 4 hours of downtime. Other components, such as Entropy and Price Feeds Beta, were not affected. Source: PANews

Crypto news: A whale address has increased its ZEC short position by 3,012.57 coins on the HyperLiquid platform, roughly worth $2.232 million. The address’s total position size has reached $34,545,802.40, with current profit and loss of +$1,438,760.67 (+12.49%). The current coin price is $601.43, and the liquidation price is $1,137.11. This whale is an OG address that previously held more than 50,000 BTC; it has been inactive for the past 8 years, and recently has gradually rotated some BTC into ETH. Its actions have repeatedly closely tracked Trump’s remarks and developments in U.S. policies.

Mars Finance News: On May 21, according to a report by the Iranian Students News Agency on the 21st, Iran is “responding to the negotiation text sent by the U.S.” and is currently discussing the text’s “overall framework, some details, and trust-building measures as assurance.” The report says the U.S. negotiation text, to a certain extent, “has narrowed the differences,” but further narrowing of the differences “requires the U.S. to abandon its warlike tendencies.” The report also says that Pakistan’s Army Chief of Staff, Munir, will visit Iran, aiming to urge Iran and the U.S. to narrow their differences and to help the two sides reach a formal memorandum of understanding. (Xinhua News Agency)

The number of initial unemployment claims in the United States for the week ending May 16th was 209k, compared to an expected 210k, with the previous figure revised from 211k to 212k.

Elon Musk posted on X stating that government-issued universal high-income checks are the best way to address unemployment caused by AI. He believes that products and services produced by AI and robots will far surpass the growth rate of money supply, and will not trigger inflation; the future bottleneck is how to ensure that unemployed people still have purchasing power. This view continues his "post-scarcity" concept: robot labor will significantly reduce the cost of goods, thereby supporting social welfare above the survival threshold.

CryptoWorld News reports that the prediction market indicates Alberta, Canada is currently expected to hold a referendum for independence; the probability of independence is rising, with the current probability at 64%.

The Senate Banking Committee passed the CLARITY Act by a vote of 15 to 9, which will be merged with the House Agriculture Committee version and then sent to the full chamber for a vote. Final approval still requires negotiations on ethical provisions to prevent cryptocurrencies and DeFi from being used for financial crimes and to address government officials' involvement in the crypto industry. The Digital Chamber of Commerce expects to reach an agreement on the ethical provisions before submitting it for a full vote. The bill needs to be passed by August to avoid delays caused by summer recess and midterm elections.