What Is ZUSD

On August 26, as Bitcoin regained strength and crypto-related stocks showed signs of recovery, investment bank Mizuho stated that the quality of the current crypto market rebound may be better than in the past. Analyst Dan Dolev noted that the current rise is not primarily driven by high leverage, as the open interest in coin-based contracts has fallen to a one-month low after the initial rebound, indicating that the funding structure is more aligned with spot and ETF-driven activity. This is crucial for market sentiment. In previous rounds of crypto rebounds, rapid accumulation of leverage often amplified volatility, and once prices fell, it could easily trigger a chain liquidation. Mizuho believes that in this round, the inflow of funds into spot Bitcoin ETFs has been particularly prominent, with a net inflow of approximately $1.9 billion over the past week, marking the strongest week since October 2025, indicating that traditional funding channels continue to support crypto assets. However, the market will still be influenced by U.S. Treasury yields, the dollar's movement, and risk appetite. If Jackson Hole signals a hawkish stance or if the AI sector in U.S. stocks continues to pull back, crypto assets may still face short-term pressure. Mizuho's assessment leans more towards a mid-term structure: this round of rebound has less leverage bubble, and if spot demand continues to flow in, crypto stocks will have a clearer performance transmission path.

On August 26, as Bitcoin regained strength and crypto-related stocks warmed up, investment bank Mizuho stated that the quality of the current crypto market rebound may be better than in the past. Analyst Dan Dolev noted that the current rise is not primarily driven by high leverage; open interest in coin-based contracts has fallen to a one-month low after the initial rebound, indicating that the funding structure is more aligned with spot and ETF-driven dynamics. This is crucial for market sentiment. In previous crypto rebounds, rapid accumulation of leverage often amplified volatility, making it easy to trigger a chain liquidation once prices fell. Mizuho believes that in this round, the inflow of funds into spot Bitcoin ETFs has been more pronounced, with a net inflow of approximately $1.9 billion over the past week, marking the strongest week since October 2025, indicating that traditional funding channels continue to support crypto assets. However, the market will still be influenced by U.S. Treasury yields, the dollar's performance, and risk appetite. If Jackson Hole signals a hawkish stance or if the U.S. stock market's AI sector continues to pull back, crypto assets may still face short-term pressure. Mizuho's assessment leans towards a mid-term structure: this rebound has less leverage bubble, and if spot demand continues to flow in, crypto stocks will have a clearer performance transmission path.

On August 26, Layer 1 blockchain protocol Linera opened pre-registration for the LNRA token community round, which will run from now until September 1. The commitment period is from September 1 to September 8, with subscriptions available through Echo's Sonar system at a fixed price in USDC (Base chain). Linera will announce the pricing and sale scale on August 28. Additionally, Linera disclosed an overview of the LNRA token economics. According to the supply distribution chart, the community reserve accounts for 60% of the total supply, the foundation holds 10%, investors have 11.3%, early contributors possess 13.7%, and community sales make up 5%. Investors and early contributors together hold 25%, and these tokens will be unlocked in batches over three years following distribution.