ZeroRushCaptain

Recently, many people have been discussing bear markets, but not many investors truly understand what a bear market is or how to respond to it. I’d like to share my understanding and some practical strategies.
A bear market is essentially a state where asset prices decline by more than 20% from their highs. This definition seems simple, but the underlying logic needs to be understood. When the market is worried about future economic prospects, consumers tighten their wallets, companies cut back on hiring and expansion, and investors start selling assets. When all three happen simultaneously, s

I just recently realized that the knowledge about the dollar sign and other currency symbols is quite extensive. Especially when doing international transactions or viewing forex quotes, if you don't understand what these symbols represent, it can really lead to problems.
In fact, currency symbols are a quick way to identify currencies. Instead of writing "US dollar," it's much easier to just use the $ symbol. But the key point is that over 30 countries worldwide use the $ symbol, so prefixes are needed to distinguish them—like US$ for US dollars, C$ for Canadian dollars, HK$ for Hong Kong dol

最近在思考一个问题，很多人问我dex是什么意思，其实就是去中心化交易所，英文叫Decentralized Exchange。说起来这东西已经存在7年左右了，但真正火起来还是最近几年的事。
简单讲，dex就是运行在区块链上的交易平台，用户之间可以直接交易，不需要第三方机构中间插手。这个概念听起来很简单，但背后的逻辑其实挺有意思的。传统的中心化交易所存在太多问题了，一旦发生故障或者被监管关闭，所有用户资产都会受影响。而且它们把加密资产集中存储，容易成为黑客的目标。用户的资产存在那儿，也没有透明度可言，交易所甚至可以随意控制用户的资产。所以dex的出现，本质上是对这些问题的一种反抗。
Dex的工作方式主要有三种。一种是订单簿型，通过撮合用户订单来实现交易，代表就是Uniswap这样的项目。还有自动做市商型，通过算法让用户和流动性提供者之间完成交易，Curve和Balancer就是这种模式。第三种是混合型，两种方式结合。
讲起dex的优势，最核心的就是几点。首先是公开透明，所有数据都在链上，谁都能看到。其次是安全性高，你对自己的账户和资产有绝对控制权，dex开发者根本插不了手。还有就是抗审查，大多数dex不需要实名认证，没人能强制停止你的交易。这些特点让dex吸引了越来越多的用户。
当然，dex也有明显的缺点。流动性相比中心化交易所差很多，体量较小。智能合约技术还不够成熟，如果开发人员编程

I just noticed an interesting phenomenon: the trend of the RMB exchange rate over the past two years has indeed been undergoing a deep-seated shift.
Looking back, since the start of the depreciation cycle in 2022, the RMB against the US dollar has been under pressure for three consecutive years, once depreciating to above 7.4. But after entering 2025, the situation began to change. Although there was some volatility in the first half of the year, a clear rebound started in the second half, and by the end of November, the RMB even broke through 7.08, hitting a nearly one-year high. Now, by mid-

Recently, I saw something that was quite upsetting. A legal expert like Luo Xiang, a criminal law professor at China University of Political Science and Law, was forced to delete posts under the pressure of online public opinion. The underlying issues behind this are truly profound.
I'm thinking, if even such legal professionals retreat in the face of online abuse, then those who are most fiercely condemning and moral judging online are actually the ones who end up as the ultimate victims. Why do I say that? Because once legal professionals stop their legal education work, the authority of the

I just noticed that the USD/JPY has been quite volatile these days, with the USD/JPY recently dropping nearly 40 pips in a short period, once hitting around 157.74, and now pulling back to 157.98. This kind of rapid fluctuation is still a bit exciting for forex traders; recently, the USD/JPY has indeed been oscillating within this range. It feels like market sentiment is still somewhat unstable, and we’ll have to keep watching how the USD/JPY moves next.

This is a very interesting story. Eight years from nothing to a fortune worth billions sounds like an entrepreneurship myth, but Wu Jihan’s experience actually reflects the brutal early growth of the entire crypto market.
He is not a chosen one. In 2005, he was admitted to the Peking University School of Economics, and later went on to earn a double degree in psychology. After graduating, he entered the venture capital world—everything about that is fairly ordinary. The real turning point came in 2011. When he first encountered Bitcoin, his career instincts as a venture capitalist led him to i

Recently, I’ve been studying blockchain privacy issues and found that many people have a somewhat fuzzy understanding of mixers, so I decided to organize my thoughts.
We all know that bank transfers or Alipay transfers make your transactions very clear to the platform. Cryptocurrencies seem more anonymous because addresses on the blockchain are strings of characters, not your real name. But this is actually an illusion—if someone knows that a certain wallet address belongs to you, they can track all transactions associated with that address, see what you bought and how much you received. It’s

Recently, I’ve been messing around with virtual numbers again and found that many people don’t know how to use the SMS verification platforms. Honestly, these are really useful when registering on overseas websites or testing interfaces, saving you from dealing with a bunch of SIM cards. But there are also plenty of pitfalls; I’ve stepped on a few myself.
Basically, SMS verification platforms are services that rent virtual numbers to receive SMS messages, covering number ranges from all over the world, with pay-per-use or monthly plans. After registering, you select a country code, bind it to

Recently, I was organizing some notes on economic cycle theories and suddenly recalled Zhou Jintao’s discussion on Kondratiev waves. I feel that re-examining it now is quite interesting.
He has a viewpoint I find particularly worth pondering: making money in life depends on Kondratiev waves. The idea is that whether you earn money or not doesn’t entirely depend on how capable you are; largely, it depends on whether you are riding the wave of the economic cycle. From the Industrial Revolution to today, the world economy has gone through five major cycles, from the steam-powered textile industry

Recently, many people have been discussing blue-chip stocks, which is actually a very worthwhile investment topic to explore in depth.
What are blue-chip stocks? Simply put, they are large companies that have established a solid foothold in their industry, have particularly healthy finances, and pay stable dividends. The concept originates from casinos, where blue chips are the most valuable chips, and was later borrowed into the stock market. These companies are usually well-known names, such as Apple, Coca-Cola, and Microsoft.
I think the most attractive aspect of blue-chip stocks is their s

Recently, more and more people around me are paying attention to cold wallets, mainly because the risks of hot wallets have made everyone a bit afraid. Losing private keys, falling for phishing scams, leaking mnemonic phrases—these incidents are heard too often, so the demand for secure storage of crypto assets is indeed rising.
Honestly, the core logic of cold wallets is quite simple—storing private keys on offline devices so hackers can't attack you through the network. Hardware wallets are the most common form of cold wallets, along with paper wallets and USB wallets. The workflow is just t

I’ve recently been looking at the RMB exchange rate and noticed some pretty interesting changes.
Starting in the second half of 2025, the USD-to-RMB exchange rate trend has clearly been different. The RMB, which had been depreciating for three straight years, now seems to be turning around. Especially in November last year, the RMB appreciated against the US dollar to below 7.08, even touching 7.0765—its highest level in the past year. What’s interesting is that this turning point coincides exactly with the easing of China-US relations and the warming up of expectations for Fed rate cuts.
To l

Recently, I’ve been thinking about a question: how should I choose cryptocurrency investments in 2026? This topic is actually quite worth discussing, especially during times of such market volatility.
Let’s start with some basic logic. Strategies in a bull market and a bear market are completely different. I’ve heard the phrase countless times: "Buy altcoins in a bull market, buy mainstream coins in a bear market." The reasoning behind this is simple—altcoins tend to surge easily during a bull market, but the bear market is a trap; conversely, mainstream coins may not rise as sharply, but they

Recently, a friend asked me what futures are, and I realized that many people still have a lot of misconceptions about futures. Actually, futures are not mysterious; I’ll share my understanding.
Speaking of what futures are, simply put, they are a contract for the future. You agree with the seller to buy or sell a certain item at a specific time and price, and this item can be oil, gold, stock indices, or even exchange rates. This concept is actually very old; farmers used to sign contracts with merchants to hedge against the risk of falling prices after a good harvest or rising prices after a

Recently, I've been looking into various investment methods in the DeFi space and found that many people still have some confusion about the concept of liquidity mining. Honestly, this is a profitable method worth deep understanding, especially for those who hold coins long-term.
First, let's talk about what liquidity mining is. Simply put, it means you put your tokens into a liquidity pool on an exchange or DeFi platform, and the platform rewards you. The concept sounds simple, but the underlying logic is quite interesting. Liquidity essentially refers to how easy it is to trade assets; highe

I have been paying close attention to the changes in the exchange rate market recently and found that the recent trend of the renminbi is quite interesting. Looking back over the past more than six months, the performance of the renminbi against the US dollar has clearly reversed the previous three years of depreciation, gradually rebounding from the high at the beginning of the year, and even briefly touching below 7.08, hitting a nearly one-year high. The logic behind this is actually worth a deep dive.
From the data, the USD to RMB has repeatedly fluctuated within the 7.1 to 7.3 range, show

I’ve been watching the Australian dollar’s trend recently and found the story behind this currency pair quite interesting. As the fifth-largest traded currency globally, the AUD/USD pair is indeed quite active, with strong liquidity and low spreads—whether you’re looking at short-term trades or long-term positioning, there are people playing it. But have you noticed that over the past decade, the AUD has been trending downward?
Why is the AUD so weak? It’s not complicated. Australia’s economy relies heavily on bulk commodity exports such as iron ore, coal, and copper, so the AUD is known as a

Recently, I’ve seen more and more people discussing liquidity mining in the community, but most people actually don’t understand what it really is. I also spent quite some time to truly understand this concept, so today I want to share my understanding with everyone.
Liquidity mining, called Yield Farming in English, simply means you put tokens into a liquidity pool, and the exchange or platform will give you rewards. It sounds a bit like mining, but it’s actually completely different. Traditional mining involves using mining machines to maintain the blockchain network, but liquidity mining do