A-shares are booming, crashing servers; encryption is still waiting for Twitter to save the day

Article by: Deep Tide TechFlow

The Shanghai Composite Index has surpassed 4100 points.

This is a new high in 10 years. Since the end of December 2025, the market has experienced 16 consecutive days of gains, a trend last seen in 2006. Retail investors flocked in, overwhelming brokerage servers to pop-up windows.

This is a screenshot of the Guotai Haitong “Fuyi” trading software shared in some crypto group chats.

Forget whether the chart is real or fake; everyone’s FOMO sentiment towards A-shares during this period is definitely genuine.

If it’s real, it’s not new for A-shares.

When the market is good, the software crashes. In 2025, the trading volume hit 400 trillion yuan, and the total market capitalization broke 100 trillion yuan, both hitting record highs. Too much money, servers can’t handle it.

But despite the complaints, money still flows in.

At the same time, what is being discussed on crypto Twitter?

On January 11, Nikita Bier, Product Lead of X (also an advisor for Solana), posted about a new feature called Smart Cashtags. Simply put, when posting, you can tag specific tokens or smart contracts, and others can click to see real-time prices, with the possibility of direct trading in the future.

Scheduled to launch in February.

KOLs are getting excited. Some analysts say this could make X the gateway for stock and crypto trading; some suggest collaborations with Solana’s memes; others see this as a key step towards mass adoption.

Bier himself said that X is the best source of financial information, with “several hundred billion dollars” of deployments based on information from X.

Hundreds of billions of dollars.

But how much has been lost, how many people have lost money—he didn’t say.

Let me ask a question: Is what crypto lacks an “entry point to see prices”?

CoinGecko, CoinMarketCap, DEXScreener, various Telegram bots, exchange apps, market aggregators… open any one of them, and you get prices, K-lines, market cap, holdings distribution—whatever you need.

How intense is this competition?

Even wallets are adding market data features, fearing that users might click on other apps when checking prices.

Now, are we saying that X creating a “click to see price” feature can save adoption?

Every bear market, someone says we need a better entry point.

In 2024, it’s about ETFs. ETFs arrive, Bitcoin hits new highs, altcoins remain sideways, and on-exchange funds lie flat.

In 2025, it’s about more institutional participation. Institutions come in, strategies buy hundreds of thousands of Bitcoins, but altcoins still show no movement.

Now, it’s about social platforms providing traffic entry points.

The question is, during the 2017 bull run, did we have Smart Cashtags? During the 2021 run, did X have trading features?

No, we didn’t. Yet people still came.

Retail investors don’t enter because the entry points are insufficient. It’s because they’re burned from previous losses or lack profit incentives in this round.

Why can A-shares overload servers?

16 consecutive days of gains, surpassing 4100 points, with visible profit effects. Retail investors vote with their feet; no one needs to “save adoption.”

Why does crypto wait for X to save it? Because it can’t attract people on its own.

This is a reversed causality. It’s not “better entry points will bring people,” but “profit effects will attract people so fiercely that even a slightly lacking entry point doesn’t matter.”

Money is where people are.

It’s not about where the platform is; it’s about where the people are.

When Elon Musk bought Twitter in 2022, he said he wanted to make it an Everything App.

More than two years have passed, and features are being announced one after another—from payments to trading to financial services—but few have actually materialized.

Smart Cashtags are scheduled to launch in February.

How many new users will it bring? How much trading volume will it convert? We’ll see.

But before that, I suggest first checking whether X’s servers are stable. After all, A-shares software crashed because too many people squeezed in.

Crypto exchanges crash mainly because people rush to withdraw.