Analysis: BTC marks the third time in history of significant underperformance relative to the Nasdaq, with both prior instances seeing strong, independent rallies.

，据 HTX 行情信息，比特币突破 79,000 美元，24 小时涨幅 1.49%；以太坊突破 2500 美元，24 小时涨幅 2.48%。

According to GMGN market data, after launching on Binance Futures in the evening, BSC-based meme coin "Niu Lai" has shown strong performance, with its market cap briefly surging past $140 million to hit an all-time high. It is now trading at $130 million, up over 159% in the past 24 hours, with a 24-hour trading volume of $63.6 million. BlockBeats reminds users that most meme coins have no real use cases, experience significant price volatility, and caution is required for investments.

Serenity published a report analyzing the sell-side research on ESMT (Jinghao Ke, stock code 3006). In March, South China Securities projected ESMT’s Q2 DDR3 4Gb contract price would rise around 50% quarter-on-quarter, while Fubon Securities forecast DRAM prices would increase 40% quarter-on-quarter. By August, South China Securities had revised ESMT’s Q2 aggregate ASP upward to a 105% to 113% quarter-on-quarter rise, explicitly stating DDR3’s price increase was “significantly better than expected”. Serenity argues that the price hike in niche memory chips is no longer just a revenue story, but a major profit amplifier, with operating leverage stretched to an extreme. Powerchip’s wafer costs may double in the second half of the year, and customers’ willingness to absorb cost pass-through has far exceeded expectations. ESMT’s single-month net profit in July was around $109 million, far exceeding earlier model assumptions. Roughly annualized, this values the stock at as low as a 1.9x P/E ratio. DDR3 is mainly used in products like IP cameras and hard drives. Memory chips account for a very small share of customers’ total bill of materials (BOM), so even a few dollars more per chip is far cheaper than the cost of redesigning and re-certifying products, making demand relatively inelastic. The consensus view is that peers are shifting production capacity to high-value products like HBM and DDR5, leading to structural tightening in DDR3 and DDR2 supply.

CryptoQuant analyst Darkfost stated that on-chain retail Bitcoin activity has reached a two-year high. The current slight pullback from the $80,000 level is more of a rotation than a market top, Bitcoin’s medium-term demand remains strong, and investor demand for the cryptocurrency has increased by 17.4% over the past 30 days.

US President Trump announced that the United States will fill its national strategic reserve with Venezuelan oil, and the process to replenish the reserve to full capacity will begin soon.

According to GMGN market data, Robinhood Chain-based token PROLOGUE has crossed $12 million in market capitalization, with a 143% 24-hour gain—hitting an all-time high—and $6.3 million in 24-hour trading volume. PROLOGUE is a pre-governance token on Robinhood Chain, backed by Fables, a dynamic-fee ve(3,3) DEX built on Uniswap v4. Its narrative is: "Every story has a beginning; this is just the prologue." At its Token Generation Event (TGE), PROLOGUE will be converted to the official governance token at a dynamic ratio, used for lock-up voting and fee sharing. BlockBeats Note: Token trading is highly volatile, largely driven by market sentiment and hype; investors should exercise caution.