1. The second wave of policy spring breeze: the “Trump-style revival” of the old public chain
Recently, the price of XRP has soared to $2.84, and its market value has exceeded $146 billion, making it the world's third largest crypto asset. This phenomenon is mainly driven by the following factors: new product layout: Ripple actively launches ETFs and stablecoins to attract more institutional investors; favorable policy expectations: the new US government will adopt a more friendly crypto regulatory policy; market capital inflow: whale accounts are active, driving market sentiment. Click to read
2. Wall Street Journal: How does the “2X MSTR ETF” affect MicroStrategy’s stock price amid BTC craze?
Investors are flocking to a pair of turbocharged ETFs to leverage Bitcoin's momentum, but they carry hidden risks that are not yet widely understood. These ETFs aim to amplify MicroStrategy's daily returns, a software company that has turned itself into a Bitcoin purchasing machine. They use complex derivatives to bet on providing double the daily return of the stock—whether up or down. These ETF funds are managed by asset management firms Tuttle Capital Management and Defiance ETFs, and are inherently risky. MicroStrategy itself is a leveraged bet on Bitcoin, holding about $35 billion in cryptocurrency. However, bullish investors have pushed its market cap to nearly $90 billion, more than double the value of its Bitcoin holdings. Skeptics argue that this is unsustainable. Click to read
3.Arthur Hayes: Meme + ICO Will Make ICO Great Again
Since the ICO frenzy ended in 2017, capital formation has become less pure, deviating from the purpose of sparking community greed. Instead, there are high fully diluted values (FDV), low circulating supplies, or VC-backed tokens. So far, VC tokens have performed poorly in this bull market cycle (2023 to present). In my article 'PvP', I pointed out that on average, old coins are expected to underperform major tokens (Bitcoin, Ether, and/or Sol) by about 50% in 2024. Retail investors can eventually buy these projects listed on major centralized exchanges (CEX), but they are reluctant to pay such high prices. As a result, the internal market-making teams of exchanges, airdrop recipients, and third-party market makers are dumping tokens into illiquid markets, leading to dismal performance. Why have we as an industry forgotten the third major pillar of the cryptocurrency value proposition... making retail investors rich? Click to read
4.Hyperliquid TGE and the Current Landscape of Decentralized Perpetual Contract Protocols
Recently, Hyperliquid's TGE distributed airdrops to the community, and its token HYPE surged from $2 to a peak of $9.8, with an FDV of nearly $10 billion. Currently, HYPE is fluctuating around $8.3. This article reviews the Hyperliquid TGE event and the current landscape of decentralized perpetual contract DEXs. Click to read
5.Grayscale: The U.S. Election as a Turning Point for the Cryptocurrency Industry and 2025 Market Forecast
The outcome of the U.S. elections has driven Bitcoin to a historic high. Although cryptocurrency is a bipartisan issue, Grayscale Research predicts that the unified control of the White House and Congress by the Republican Party should lead to legislation and regulatory oversight more favorable to industry innovation. Elected President Trump’s nominations for key cabinet positions seem consistent with a pro-cryptocurrency policy agenda. 2024 is seen as a favorable time for cryptocurrency returns, and Grayscale Research believes the bull market may continue into next year. Click to read
