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first_img Analyst Jukan: Storage and computing power will fluctuate in the same direction, local AI may meet the demand

Analyst Jukan published a discussion on the storage industry's cycle, believing that computing power and storage will tighten or loosen in sync, and that there will not be a situation where computing power is continuously in short supply while storage alone turns to surplus. He also stated that the logic of shorting storage while going long on hard drives does not hold, as hard drives are tied to the storage cycle; if this cycle declines, hard drives will struggle to remain secure on their own.Jukan noted that the market lacks a clear judgment on trends after 2027. Historically, prices often peak one to two quarters before supply increases, followed by an expansion in shipments and a contraction in profit pools. He believes that this cycle is different from those of personal computers, smartphones, and general-purpose servers, as the products used are not standardized, and the triggering factors are also different. Some investors who still view storage through the lens of past experiences of profits during upswings and losses during downswings dominate pricing, leading to a low valuation of storage. He stated that a sharp collapse similar to previous ones is unlikely to reoccur, but a gradual decline is possible; even if Samsung and SK Hynix's profit margins are halved from current levels, the price-to-earnings ratio may still be in the teens, about half of the valuation of hard drive companies.He also believes that when storage prices decline, other demands will absorb supply at various price levels, with local AI-driven personal AI demand expected to emerge. If the storage prices pushed up by hyperscale cloud providers cannot be controlled, local AI will struggle to spread. Referring to the transition from mainframes to personal computers and from cloud to smartphones, he anticipates that this AI cycle will shift from cutting-edge laboratories to local open-source AI, with the latter absorbing storage demand. He simultaneously stated that storage prices will not remain high for over ten years; prices will eventually decline, but new consumer demands driven by local AI and open-source initiatives may provide bottom support.

first_img SUBFROST Data: Alkanes accounted for 61.1% of Bitcoin trading volume in the last 90 days

The Bitcoin Meta Protocol Alkanes, maintained by SUBFROST, announced that data shows from June 23 to September 20, corresponding to block heights 954,917 to 967,918, Alkanes transactions accounted for 61.1% of all Bitcoin transactions, approximately 59.9 million transactions. During the same period, Alkanes accounted for 40.3% of block space weight, 94.2% of OP_RETURN byte count, and 13.4% of transaction fee revenue. The data comes from documents published daily by SUBFROST under the MIT license, with real-time charts available at subfrost.io/metrics.Alkanes is a Bitcoin meta protocol built on the Runes protocol, maintained by the company SUBFROST, which is focused on the U.S. market, co-founded by Gabe Lee and the original author of the protocol, RWP IV. The company claims that its community is almost entirely from the Asia-Pacific region, providing complete Chinese documentation and a Chinese data page, and operates an official Chinese Telegram for DIESEL; this year the company held seminars in China and set up a booth at Bitcoin Asia in Hong Kong.On the technical side, Alkanes does not alter Bitcoin consensus and does not operate as a sidechain. Its contract code is WebAssembly, deployed once in the witness data, and subsequent users send function calls via runestone in Runes format, executed by the independent indexer Metashrew; full nodes only confirm Bitcoin transactions and do not verify Alkanes balances.
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