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 not yet widely understood. These ETFs are designed to amplify MicroStrategy's daily returns, as the software company has turned itself into a Bitcoin purchasing machine. They use complex derivatives to bet on providing double the daily returns of the stock, whether it is up or down. These ETF funds are managed by asset management companies Tuttle Capital Management and Defiance ETFs, and are inherently risky. MicroStrategy itself is a leveraged bet on Bitcoin, holding approximately $35 billion in cryptocurrency. However, bullish investors have pushed its market capitalization 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 goal of igniting community greed. Instead, there are tokens with high fully diluted value (FDV), low circulating supply, or VC support. So far, VC tokens have performed poorly in this bull market cycle (2023 to date). In my article 'PvP', I pointed out that on median, old coins in 2024 are expected to underperform major tokens (Bitcoin, Ether, and/or Sol) by about 50%. Retail investors can eventually purchase 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 the tokens into illiquid markets, leading to poor performance. Why have we, as an industry, forgotten the third pillar of the crypto value proposition... making retail investors wealthy? Click to read
4. The current state of Hyperliquid TGE and decentralized perpetual contract protocols
Recently, Hyperliquid conducted its TGE and distributed airdrops to the community, with its token HYPE rising 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 TGE event of Hyperliquid and the current state of decentralized perpetual contract DEXs. Click to read
5. Grayscale: The U.S. election as a turning point for the crypto industry and 2025 market prediction
The results of the U.S. elections drive Bitcoin to create new historical highs. 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 to align with a pro-crypto policy agenda. 2024 is seen as a favorable period for cryptocurrency returns, and Grayscale Research believes the bull market may continue into next year. Click to read
