Finishing: Mars Finance
1. Important events have occurred in the industry in the past week
1. Industry
South Korea submitted amendments to its donation law to restrict the use of cryptocurrencies
According to local media outlet Kyunghyang Shinmun, the public administration said it had submitted some amendments to South Korea's Donation Act, which restricts the use of crypto assets for donations. Starting in July, stakeholders who wish to donate to charities or causes will be able to use a variety of new ways such as department store gift certificates, stocks, Naver's loyalty points, etc., but crypto assets such as Bitcoin will not be available. The agency noted that the bill on the collection and use of donated items was first enacted in 2006, when there was a smaller variety of payment methods and smartphones were not widespread. As mentioned in the new amendments, the donation methods have also been expanded from bank transfers and online methods to include automated response systems, postal services and logistics services. In addition, the legislation will allow donations of locally-government-issued stablecoins pegged to the South Korean won and blockchain-based gift certificates.
Taiwan introduced the Money Laundering Prevention Act, and unregistered virtual asset service providers face up to two years in prison
Taiwan recently passed a new law, called the "New Four Laws on Combating Fraud", which aims to further strengthen the crackdown on fraud and strictly regulate money laundering prevention measures. The Act includes the Fraud Crime Threat Prevention Act, the Money Laundering Prevention Act, the Technology Investigation and Protection Act, and the Communications Protection and Supervision Act. Among them, the amendments to the Money Laundering Prevention Law are specifically aimed at virtual asset service providers, including three main directions of amendment. First, any VA service provider that fails to complete the anti-money laundering registration will face up to 2 years in prison. Second, the law also adds a special type of money laundering offence, which imposes a prison term of 6 months to 5 years and a fine of up to NT$50 million for the use of virtual asset accounts and third-party payment accounts as money laundering tools.
U.S. congressmen have proposed the Blockchain Integrity Act, which would temporarily ban cryptocurrency mixers
U.S. Congressman Sean Casten (from Illinois 6th District) introduced the Blockchain Integrity Act, which seeks to prohibit financial institutions, including cryptocurrency exchanges, virtual asset service providers (VASPs), and other registered money services businesses (MSBs), from accepting incoming funds transmitted through mixers for two years, as well as preventing outgoing funds from being withdrawn directly to known mixer addresses. The move is intended for the Treasury Department, the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Department of Justice (DOJ) to conduct a study into the illegal uses of these mixers. The bill was co-sponsored by Bill Foster of the 11th District of Illinois, Brad Sherman of the 32nd District of California, and Emanuel Cleaver of the 5th District of Missouri.
Wall Street Journal: Apple is working on AI chips for data centers
Apple is working on chips that can be used to run AI software on servers in data centers, a move that could give it an edge in the AI competition. The internal code name for the project is ACDC (Apple Chips in Data Center). The ACDC project has been in the works for several years, and it is uncertain when the new chips will be available.
Previously, Apple announced that it would hold its 35th Worldwide Developers Conference (WWDC) online from June 10-14. People familiar with the matter said that the conference will focus on artificial intelligence. At that time, the company is expected to unveil its AI strategy.
Microsoft plans to launch a new artificial intelligence model, MAI-1, to compete with Google and OpenAI
For the first time, Microsoft has trained a new in-house AI model that is large enough to compete with Google, Anthropic, and OpenAI's own state-of-the-art models, since Microsoft invested more than $10 billion in OpenAI in exchange for the right to reuse the startup's AI models. The new model, known internally as "MAI-1," is led by Mustafa Suleyman, a former head of artificial intelligence at Google and most recently CEO of AI startup Inflection
zkSync will be upgraded on May 13 with new features such as P256Verify and Bridgehub
Ramon, head of product delivery at Matter Labs, said in a post on Platform X that zkSync will be upgraded on May 13. The upgrade mainly includes 4 contents: 1. P256Verify: This precompilation allows signature verification of secp256r1 elliptic curves, and also adds ecAdd, ecMul, and ecPairing precompilation; 2. Bridgehub: The foundational building blocks that unlock all ZK Stack Chain interoperability and are designed to make cross-chain transactions seamless; 3. On the ZK Stack side, protocol work to support validiums, custom DA layers, and custom base tokens has also been completed, which will be available for the ZK Stack chain with some upcoming server changes; 4. Support for .transfer/.send calls without providing Gas, which can unlock some ETH that is stuck in contracts deployed without following best code practices.
K33 Research: Crypto users are desperate to find the next hot project in the SocialFi space
K33 Research analysts say crypto users are desperate to find the next hot project in the SocialFi space, and despite being plagued by "perverse incentives", they believe the social finance space is growing. In a May 8 research report, K33 DeFi analyst David Zimmerman wrote that after the recent friend.tech airdrop, crypto users have begun to see the new SocialFi app Fantasy Top (built on Ethereum L2 Blast) as the next potential opportunity.
The founder of Cassiopeia Services urged Gen Z women to take action to gain more rights and opportunities in the digital age
Stefania Barbaglio, founder of Cassiopeia Services, a public relations and investor relations firm, said that with the rise of digital technology, Gen Z women face unprecedented opportunities and challenges. Despite their huge social media presence, Barbaglio notes that they may overlook opportunities to make a positive impact in society. With the rise of non-fungible tokens (NFTs), their digital avatars could become a symbol of virtual identity. However, Barbaglio stressed that now is the time to harness this digital power to drive real social change, break down patriarchal structures and create a more egalitarian and constrained world.
Hyperbolic Launches PoSP Protocol to Solve Decentralized AI Network Trust Challenges
Hyperbolic, a startup focused on decentralized AI computing, has announced the launch of a protocol called "Proof of Sampling (PoSP)" that aims to solve the trust challenges in decentralized AI networks. Developed by a team led by Math Olympiad player Jasper Zhang, the protocol combines advanced sampling methods and game theory to incentivize integrity and minimize computational needs. According to Zhang, this innovation can be applied not only to artificial intelligence, but also to layer 2 blockchains and active verification services. They have submitted a paper to arXiv and launched an "spML" implementation. The move marks a significant step forward in addressing key issues at the intersection of blockchain and artificial intelligence.
GMX: The new proposal proposes to bring GMX V2 to Solana to launch the GMSOL project
According to the proposal description, GMSOL will operate as an independent project while maintaining a close relationship with GMX. All value measurement and storage will be dedicated to GMX tokens. GMX will implement a buyback mechanism. A large portion of the fees will be used to buy back GMX, thus establishing the GMSOL Treasury. GMSOL Treasury will be supervised by the GMX DAO. GMSOL points will be introduced, and pre-minted or pre-sold GMSOL points will be obtained, and the specific rules of GMSOL points will be announced before GMSOL is officially launched. The GMSOL Treasury will provide value support for GMSOL Points. GMSOL does not require any venture capital funding, and all initial technology development and operating costs are borne by the project team themselves.
Reddio has announced the open-sourcing of Itachi, an L2 and L3 appchain sequencer framework
ZK Layer2 Reddio 在 Paradigm 和 Tiger Cub 基金、Arena Holdings 的支持下，宣布 L2 和 L3 应用链排序器框架 Itachi 现已正式开源，该排序器框架用 Golang 编写，为开发人员提供了灵活性和定制性。 目前，Boyaa、XAR Labs、Verse、Mississippi、Metascan、Mizu、Crystal Fun、TG. Bet 等游戏公司，EdgeX、SphereX 等 DEX 公司正在测试 Itachi 的应用链发布。
2. Sound
Foresight Institute CEO：区块链可以让人工智能更安全
Allison Duetmann, CEO of the Foresight Institute, a think tank, said that blockchain cryptography can improve the security of AI systems in three key areas.
Robinhood CEO: It's unacceptable that Americans can't use crypto assets
Robinhood co-founder and CEO Vlad Tenev said in an interview with CNBC that his company is taking a stand for customers and that it is unacceptable for Americans to have access to cryptocurrency. As crypto assets become more important, Americans should be able to use them.
Lightning Labs CEO：Taproot Assets协议拟将稳定币和代币化资产引入比特币
Elizabeth Stark, CEO of Lightning Labs, revealed the latest progress of the Bitcoin development company at the London Crypto and Digital Asset Summit livestreamed by the Financial Times. It said that the Taproot Assets protocol, part of Lightning Labs, is building features to bring stablecoins and tokenized assets to Bitcoin. According to Stark, the developers have made significant progress on this goal, eventually testing the deal on Lightning. Traditionally, these digital assets have been run on other blockchains but have been plagued by high fees and other issues, she added. She believes that Bitcoin's network may be best suited to facilitate the use of stablecoins because it is "the most secure and decentralized" blockchain.
Chairman of the Financial Market Committee of the State Duma of Russia: does not support a complete ban on the circulation of cryptocurrencies in Russia
Anton Gorelkin, chairman of the Financial Market Committee of the State Duma of Russia, proposed that the bill restricting cryptocurrency business exempts cryptocurrency miners and certain pilot projects supported by the central bank. Anton Gorelkin said that he does not support a complete ban on the circulation of cryptocurrencies in Russia. In a Telegram post, he explained that this restriction is not intended to prohibit the use of all cryptocurrencies, but to regulate the creation of cryptocurrency exchange platforms within the framework of Russian law. Anton Gorelkin also believes that the creation of a legal crypto infrastructure in Russia is influenced by geopolitical realities. This needs to take into account factors related to international relations. He went on to add that allowing such infrastructure could subject Russian businesses to Western sanctions.
Schwab: It is expected that the Federal Reserve will cut interest rates two to three times in the second half of this year, and traditional investment products will not be replaced by virtual currencies for the time being
Charles Schwab Hong Kong financial adviser Lin Changjie said that the United States may be in a rolling recovery process, and the performance of U.S. stocks is still resilient, and the Federal Reserve is expected to have the opportunity to start cutting interest rates in the second half of this year, two to three times, and continue to be optimistic about the financial, energy and material U.S. stock sectors that benefit from the high-interest rate environment. He believes that traditional investment products such as stocks and bonds will not be replaced by virtual currencies at this time. Regarding the selection of U.S. stocks, Lin Changjie pointed out that due to the maintenance of a high-interest rate environment, it is expected that the income of the three major categories of financial, energy and materials stocks will grow steadily, and such stocks may be bullish this year. Earlier, the price of bitcoin continued to hit new highs, and even overtook silver to become the eighth largest asset in the world.
Gary Gensler: The spot Ethereum ETF is being reviewed by the SEC
SEC Chairman Gary Gensler was asked in an interview with CNBC Squawk Box whether ETH could be a security or a commodity, and he didn't directly say how ETH would be classified. "I would say the fundamental question is how to make sure that U.S. investors are protected, and right now, they're not getting the disclosures they need, and the intermediaries at the center of this fairly concentrated market are often in conflict and doing what we'd never allow the NYSE," Gary Gensler said. The SEC has not yet made it clear whether Ethereum is a security, but Commodity Futures Trading Commission Chairman Rostin Behnam has insisted that it is a commodity, and Gary Gensler said the matter has been referred to the SEC for the spot Ethereum ETF that the issuer is applying for.
Rep. Patrick McHenry: Support for overturning the SEC's rule preventing regulated financial firms from hosting bitcoin and cryptocurrency
According to Bitcoin Magazine, U.S. Congressman Patrick McHenry also gave a speech in support of overturning the U.S. Securities and Exchange Commission's (SEC) rules that prevent regulated financial firms from hosting Bitcoin and cryptocurrencies. McHenry believes that banks should also custody spot bitcoin ETF funds.
JPMorgan Chase: If the SEC refuses to approve the spot Ethereum ETF, it will face legal challenges and ultimately lose the lawsuit
JPMorgan Chase & Co. (JPM) said the Wells notice from the U.S. Securities and Exchange Commission (SEC) to trading platform Robinhood (HOOD) should not pose a barrier to final approval of spot Ethereum ETFs. JPMorgan Chase & Co. said the SEC's legal action against crypto exchanges appears to be an attempt by the agency to influence U.S. policymakers and lawmakers who will be responsible for passing crypto market regulations at some point. If the SEC refuses to approve a spot Ethereum ETF, it could face legal challenges and ultimately fail.
Author of "Rich Dad Poor Dad": There may be an economic depression, it is recommended to allocate Bitcoin
Robert Kiyosaki, author of the best-selling book "Rich Dad Poor Dad," spoke on the X platform, predicting a possible recession and stressing the importance of preparing for the worst. He mentioned that although he did not want an economic depression, he thought it was better to prepare for it than to live in fantasy. He believes that a recession can be an excellent time to accumulate wealth if well prepared, and he has allocated gold and bitcoin, and calls on everyone not to live in illusions, but to be fully prepared for challenges.
3. Data
OurNetwork创始人：Arbitrum One ETH存款流入占L2网络的75%
As of April 28, Arbitrum One has accumulated an all-time high of $5.2 billion worth of ETH, according to Spencer Noon, founder of on-chain analytics platform OurNetwork, on the X platform. At 1.74 million ETH, its balance is larger than the other EVM chains combined. ETH inflow data from CEXs also shows that Arbitrum One is the primary L2 network for ETH deposits, accounting for 75% of all ETH inflows into L2 as of May 2024.
The U.S. crypto lobby has raised more than $102 million to support digital-asset-friendly candidates
According to a report by Public Citizen, external lobbying teams related to the cryptocurrency industry have raised more than $102 million to lobby for the upcoming U.S. congressional elections in favor of digital-asset-friendly candidates. As the industry faces increasing scrutiny from regulators such as the U.S. Securities and Exchange Commission, as well as lawmakers, how crypto companies want to influence policies that are beneficial to them.
Jack Dorsey's Block will raise $1.5 billion through the issuance of senior notes
Fintech company Block (formerly Square) announced on May 6 that it plans to issue $1.5 billion of senior notes to qualified institutional investors through a private placement. The company said in a statement that the terms of the notes, including interest rates and maturity dates, are subject to negotiation with the initial purchaser. Investors approved to participate in this round include pension funds, banks, mutual funds, and high-net-worth individuals. Fitch Ratings notes that Block has been using convertible debt for external financing since its IPO and is well-positioned to capture long-term growth opportunities in the payments and consumer financial services sectors.
Holograph Announces HLG Tokenomics: Maximum Supply of 10 Billion Tokens, Initial Circulation of 15.25%
全链 NFT 协议 Holograph 公布 HLG 代币经济学，最大供应量 100 亿枚，初始流通 15.25%。 总供应量的 25%分配给生态，其余为核心开发团队（23.4%）、战略合作伙伴（21.18%）、基金会财库（15%）、社区和 Launch（10%）、顾问（5.42%）。 此前消息，LayerZero 生态全链 NFT 协议 Holograph 宣布完成 300 万美元战略融资，Mechanism Capital 和 Selini Capital 领投，Hal Press 旗下 Northrock Capital、Arca、Courtside Ventures 和 Hartmann Capital 参投。 截至目前 Holograph 融资总额达 1100 万美元。
The Web3 Foundation supports a total of 30 projects in Phase 21
The Polkadot Ecosystem Foundation Web3 Foundation (W3F) has announced its support for a range of diverse and innovative projects through the classic W3F grant program and the recently launched Decentralized Future (DF) initiative. In Phase 21, we supported a total of 30 projects through the combined efforts of the W3F Grant Program and the DF Program. The Grants program will continue to focus on projects with broad open source benefits, promoting tools and technologies that can be widely reused within the community. In contrast, the DF program supports a broader range of projects that want to be financially self-sustaining in the long term, including those outside of open source implementations.
HKEX: The total market capitalization of Bitcoin and Ethereum futures ETFs reached HK$1.2 billion in the first quarter, with inflows of HK$592 million
Following the SFC's approval of the public offering of virtual asset futures ETFs in Hong Kong on 31 October 2022, three virtual asset futures ETFs investing in Bitcoin and Ethereum futures have been listed on the Hong Kong Stock Exchange, and the ETFs have been favored by investors since their launch, with an average daily trading volume increasing from HK$8.9 million in 2023 to HK$51.3 million in the first quarter of 2024. It also attracted an inflow of HK$529 million. The total market capitalisation reached HK$1.2 billion as of the end of March 2024, representing a year-on-year increase of 255%. In December 2023, the SFC announced that it would allow the listing of virtual asset spot ETFs, further enhancing Hong Kong's position as a cryptocurrency hub and making HKEX the first exchange in Asia to allow such products to be listed.
The total redemption volume of the Hong Kong Bitcoin ETF yesterday was 90.16, and the Ethereum ETF showed net redemptions for 3 consecutive days
Hong Kong Ethereum spot ETF yesterday (May 9) had a single-day net redemption of 471.25 Ethereum, with a total Ethereum holding of 15,630 Ethereum, a total turnover of $542,000 in a single day, and total net assets of about $46.71 million. It is worth noting that the Hong Kong Ethereum spot ETF has shown net redemptions for 3 consecutive days. In terms of asset size, Bosera Hashkey ETF currently holds 6,500 ETH and ranks first, while ChinaAMC and Harvest hold 5,700 and 3,420 ETH respectively. (Note: Hong Kong crypto ETF supports spot subscription and redemption mechanism, and net subscription refers to the difference between the subscription amount and the redemption amount within a certain period of time is positive, that is, buying more than selling, and vice versa, it is a net redemption.) ）
Bernstein: Bitcoin's rally is far from over, and it is still believed that it will reach $150,000 by the end of 2025
Although the price of bitcoin has retreated slightly in recent weeks, analysts at Bernstein believe that the BTC rally is "far from over." They reiterated their previous forecast, expecting Bitcoin to reach $150,000 in this cycle by the end of 2025. Gautam Chhugani and Mahika Sapra wrote in a note: "We feel better about this prediction, and Bitcoin's metrics suggest that this is a healthy cycle that is still in its early stages. Analysts noted that Bitcoin's recent correction to the regional low of around $57,000 effectively "cleared the crypto exchange futures contract of overleverage." They also noted that the US Bitcoin spot ETF reversed the trend and returned to net inflows after eight consecutive days of outflows. Even Grayscale GBTC recorded a net inflow of $63 million last Friday after 78 consecutive days of outflows. "This is important considering that GBTC has been the source of a large number of sustained sell-offs, and the new 9 ETFs have had to digest these selling pressures," the analysts explained. ”
2. An in-depth article worth reading and re-reading
Crypto market outlook for May
The May outlook is coming, and given the uncertainty of the market before, it was not released on May 1. Now that the content is here, this article is my personal summary of the tokens I am personally preparing to lay out according to Narrative & Catalyst, and the main tokens I am concerned about are AIAI, FET, TAO, RNDR, AKT, OLAS, PRIME, WIF, PEPE, JUP, WEN, etc. Among them, AIAI has a clear catalyst, FET is merging with OCEAN and AGIX, OLA and PRIME are long-term positions, and WIF and PEPE have the opportunity to become the next SHIB-level meme. In addition, JUP is striving to become the front-end of the Solana ecosystem, and its team structure is also very large, which is worth paying attention to. BlackRock lays out Crypto, mainly doing ETFs and RWA. The European Championship and the Summer Olympics could bring about a World Cup-like hype. Overall, there is likely to be a volatile trend in May, with the fee group run by investment researchers and fundamental experts, and the price is 3SOL/year.
Crypto Hierarchy Pyramid: The higher you climb, the higher the returns
Cryptocurrencies operate like a pyramid, with high returns at the top and retail investors being exploited. KOLs serve the upper echelons and promote new projects. Retail investors should be cautious and only trust Bitcoin. Venture capital dominates the market, but it can also be crushed. Retail investors should focus on tokens that have a practical purpose, not hype promoted by KOLs. The layers of the crypto pyramid are complex, with BlackRock and the Fed at the top of the list. Satoshi vision is only pursued by a few, and most people are just playing games. Any act that harms the upper echelons is severely punished, which is why Satoshi Nakamoto's identity is unknown.
The logic of Bitcoin's bull market has quietly changed, and many people still can't make money?
This year is the half year of bitcoin reduction, but most people are not happy, because this round of bull market is very different from the previous one, and the market rebounds due to the impact of dollar liquidity. The new narrative became the bull engine, and the crypto community explored new blockchain solutions to bring money and new users to the crypto industry. Sophisticated investors focus on fundamental analysis, asset allocation, risk management, and long-term investment planning, rather than chasing short-term profits. Crypto assets will play an important role in the future development, and with the rise of AI, Web3, and the metaverse, crypto assets will take center stage. While short-term volatility can be confusing and anxious, the future of crypto remains clear in the long term.
In times of peace, where are we in this cycle?
The authors explore the cyclicality of the crypto market and the effectiveness of crowd wisdom in financial decision-making. After the collapse of FTX, the price action of Bitcoin and Ethereum predicted future market movements. The impact of ETF approvals, institutional capital inflows, and changes in market structure on the market was also discussed. The author argues that crowd wisdom is mostly a joke and that human behavior is irrational, especially when it comes to money. The changes in the structure of the crypto market cannot be underestimated, and the ETF approvals for Bitcoin and Ethereum will bring huge inflows. Despite the flaws, there is optimism about the crypto market.
Selling orders are exhausted! The market is forming a new bottom
This article analyzes sell-side activity in the Bitcoin market, using a new combination of indicators to track market lows. The market has shifted to a net distribution mode, but sentiment is gradually cooling. By analyzing the investor group, it is found that there are a large number of book gains and unrealized losses in the market, and the aggressive side is identified during the correction period, and the market direction can be predicted. The cost basis of short-term holders is an important indicator to distinguish a bull market from a bear market. By analyzing the holding time and MVRV ratio, potential local lows and highs can be uncovered. A local bottom may be forming in the market right now, but a sustained break below current levels could cause panic among investors. SummarySince March, the bitcoin market has shifted to a net distribution format, and by analyzing investor sentiment and seller activity, local lows can be identified.
The use and evolution of decentralized exchanges (DEXs).
Events such as SEC scrutiny and USDC depegging have tested the regulatory hurdles and resilience of DEXs, but DEX trading volumes continue to grow. Uniswap and Curve Finance are the largest DEXs, and Uniswap v3 solves the challenge with a centralized liquidity model. Over time, Curve's liquidity composition has changed, with the stETH/ETH pool now being the largest. DEXs are expanding across multiple networks as transaction fees decrease. The launch of Uniswap v4 will further reduce transaction costs and provide more customization features. The development of decentralized exchanges highlights significant advancements in the DeFi space, particularly in improving liquidity management and trading efficiency.
A quick look at the market-making logic of market makers: the driver of the bull market or the sickle of the market?
Market makers profit by manipulating the market, and traders benefit from this. It is important to understand the psychology of the market and not be influenced by market makers. Market makers own a large number of tokens and can profit from price differences. There are two types: project consultant and traditional,
There are more and more coin parties, and the inflow of BTC on exchanges has fallen to the lowest level in nearly a decade
The cryptocurrency market consolidated on Tuesday, with Bitcoin holding above $63,000 and altcoins falling slightly. The overall market capitalization is $2.33 trillion, and Bitcoin dominates 53.4%. BTC inflows on exchanges fell to their lowest level in nearly 10 years, and long-term holders began to accumulate, signaling a bullish recovery to come. Despite the consolidation of Bitcoin, market sentiment remains "greedy" and further weakness is needed to clear the excess bubble.
But the ultimate goal is the same. Partnerships are a common form of manipulation. Amber Group, DWF Labs, and GSR are among the most influential market makers, and traders should keep an eye on them.
Disassemble the list of top KOLs to invest and look for new alphas
RootData released the statistics of KOLs' participation in project financing in the past six months, among which dingaling ranked first with 21 project financing. KOLs' main investment targets are concentrated in popular tracks such as games, social networking, and BTC L2 networks, with a relatively high proportion of NFT players. The KOL investment strategy is to find new alphas and earn income by participating in projects. The Solana network is a high-performance blockchain, and casual mini-games are its dominant track. Overseas KOLs have accumulated resources through hard work and content output, which has become the choice for projects to throw away olive branches. Find your own Alpha, and maybe you'll be the next one to become famous in the crypto world.
Blue Fox Note: What do you think of ZKM's entry into the BTC L2 track?
ZKM is an Ethereum-L2-like technology designed to address asset security and sustainability issues. It adopts zkVM technology and Entangled Rollup architecture, realizes cross-chain assets through zero-knowledge proofs, and introduces the OCP mechanism to ensure security. Sequencer nodes earn revenue and ensure sustainability. BTC L2 exploration will continue, with both native L2 and EVM-compatible L2 advantages.
Why can't retail investors make money in the crypto market now?
The structure of the cryptocurrency market has changed, making it difficult for retail investors to make profits. Venture capitalists dominate the market, and retail investors are marginalized. While the airdrop has improved, the gains are limited. Problems with the structure of the market have led to a lot of selling pressure and falling prices. Retail investors and venture capitalists should not be hostile, and solving the problem of market structure is the only way to solve the current dilemma.
Solana 链上工具盘点:成为 SOL Memecoin 玩家必备神器
The crypto market has pulled back, mainstream coins have fallen significantly, altcoins are illiquid, and only Memecoin on the Solana chain is still viable. The number of SPL new coins per day reached a new high, the Pump.fun revenue of the one-click coin issuance platform broke a new high, and the trading volume on the Solana chain exceeded that of the Ethernet mainnet. As the demand for Solana's on-chain data tools grows, this week Dr. DODO will introduce three tools to help manage assets and track addresses, as well as several TG Bot widgets. GMGN.ai, AlphaVybe, and Step Finance are the most popular Solana on-chain tools sites for mainstream Degen users. The TG Bot channel tracks address dynamics and popular trending coins, and it's important for Memecoin players to master on-chain analysis capabilities. By using these tools, I hope you will become an expert player on the Solana chain and earn more profits.
Interpreting OP Stack's latest route: application requirements force technological change
Optimism announced that L3 built with OP Stack can now join the Superchain and enjoy the benefits of the overall ecosystem development. The latest update includes a custom Gas token and Plasma mode, opening up the framework for L3 developers to participate in the Superchain ecosystem. Optimism aims to make the OP Stack the ultimate weapon to realize the vision of a superchain to meet application needs and provide a more cost-effective way to build.
Arthur Hayes: Bitcoin will fluctuate between 60,000 and 70,000 before August
This article explains the reasons for the continued decline in the crypto market, including the US tax season, Fed policy concerns, the Bitcoin halving event, and the slowdown in US Bitcoin ETF asset management growth. The author predicts that bitcoin will climb towards $1 million and recommends increasing investment in cryptocurrencies when the market is active. Finally, the authors summarize their predictions: the price of bitcoin will fluctuate between $60,000 and $70,000, and the policy announcements of the Federal Reserve and the Treasury Department will lead to hidden money printing. Investors should be aware of the volatility of the market, seize the moment to sell, and avoid spending dollars on high-risk shitcoins.
TechCrunch: Hong Kong, the new sanctuary for global crypto businesses
As regulations in the U.S. tighten, crypto startups and founders are turning their attention to Hong Kong. More than 50,000 people have participated in the Hong Kong government's measures to attract entrepreneurs, technologists and investors. The Hong Kong government's liberal approach to cryptocurrency regulation has attracted many cryptocurrency companies. Chinese mainland still bans cryptocurrency trading, but businesses recognize Hong Kong as a gateway to neighboring countries. Some foreign founders set up physical establishments in Hong Kong, taking advantage of technological advantages and large
Long push: Opinion: There is no way to climb, which is the cruel truth of crypto youth flocking to MEME
The author reads VC blogs about memes and thinks that these articles are exactly why people trade memes. Young people are under tremendous financial pressure and therefore see memes and cryptocurrencies as a way to change their fate. It is also a counterattack to the previous generation, who tried to take away opportunities from young people through regulations and privatization. The real reason behind this deal, the author believes, is desperation and disappointment with the previous generation.
Bankless: The Next Frontier Hotspot in Crypto – the RWA Landscape
The next frontier in crypto could be real-world assets such as gold, stocks, funds, and treasuries. Stablecoins are the most successful asset in the RWA space, but more commodities and stocks are likely to be tokenized in the future. Companies such as BlackRock, Franklin, and Ondo have launched on-chain Treasury products with yields as high as 5.4%. The RWA space is one of the fastest-growing sectors in the crypto space and is likely to drive the growth of the entire industry. Private credit and real estate have also been tokenized in the crypto space, bringing new levels of global access and liquidity to traditional assets. The concept of RWA promises to redefine the way the world trades these assets.