Recently looked at Bitcoin dominance performance. To be honest, there hasn't been much fluctuation in the past few months, it has been staying there. It looks like it's about to test the daily 200 moving average again, but since the sell-off in summer, this moving average has been a hurdle, suppressing it from rising. From a macro perspective, the overall situation remains ambiguous. You can feel this sense of helplessness from the ETH/BTC trend — sideways consolidation with no clear direction. $BTC $ETH $SOL and other mainstream coins are all showing a wait-and-see stance. It feels like the market is currently at a delicate equilibrium, waiting for a signal to break the deadlock. Technically, no particularly clear signals have been given, so traders usually need to be more cautious at this time.

Data shows that Ethereum's price movement is related to the liquidation risk on mainstream exchanges. Once ETH falls below $3,152, the liquidation pressure from all major exchanges' long positions will instantly erupt, with the total liquidation scale potentially reaching $1.071 billion. Conversely, if ETH can stay above $3,460, short positions will face a major test—the liquidation strength of short positions on mainstream CEXs will accumulate to $864 million. These two price levels are like the "life and death line" of the market, determining whether the bulls or bears will take the initiative next. Traders need to keep a close eye on these key levels, because every breakout or breakdown behind them hides a chain reaction of massive liquidations.

There is an old problem in traditional finance: your salary is always delayed, only arriving after each month. Even more frustrating is that you can't access the money you'll earn in the future—unless you go to a bank and take out a high-interest consumer loan. But what if we introduce blockchain logic? Personal labor commitments and future income streams can actually become verifiable assets. Once they become assets, they can enter the DeFi ecosystem as collateral. In this way, workers essentially own their own small bank. Let's take a concrete example: suppose you're a freelancer, taking on a big project. The client commits via a smart contract to pay you 10 ETH after 6 months. This contract itself is a valuable asset—it represents your future cash flow. You can submit this "future receivable certificate" to an oracle network for verification. The network will evaluate the income based on project completion, client credit, and other factors, and then discount it to produce an on-chain asset representing its present value. With this asset, you can put it into a DeFi protocol as collateral to borrow stablecoins (like USD1). This money can be immediately used to cover living expenses, server costs, employee salaries—any expenses that need to be paid before the project is completed. After 6 months, when the project is delivered and you receive the ETH, you repay the loan. How meaningful is this process? First, you gain the value of your labor results in advance, instantly eliminating cash flow pressure. Second, you no longer need to take on low-quality short-term projects just to survive; you can focus on high-value work. Third, your bargaining power increases directly—clients know you have sufficient funds and won't be forced to accept harsh terms. Finally, your financial autonomy is greatly enhanced—you truly control your economic destiny. What is the key to this logic? A credit system that can accept diversified assets as collateral, combined with an efficient and low-cost stablecoin issuance engine. With these two, the boundaries between labor and capital become blurred. Your skills, time, and reputation, as long as they can be verified via smart contracts, can be transformed into productive capital usable today. You will find that this is essentially a reconstruction of the traditional "distribution according to labor." We have upgraded from "you work, then you get paid" to "you commit to verifiable future labor, and can obtain corresponding funding now." Such a financial architecture is a game-changer for freelancers, small entrepreneurs, and skilled workers.