Stablecoins are a stable store of value and a key entry point for various on-chain activities. Today, stablecoins have entered the real world, demonstrating financial efficiency that surpasses traditional banking systems in retail payments, B2B transactions, international remittances, and more.

In emerging markets such as Africa, Asia, and Latin America, the application value of stablecoins is gradually becoming apparent. Their high financial inclusivity enables residents of third-world countries to effectively offset high inflation caused by government instability. Moreover, stablecoins can also participate in global financial activities, gaining access to cutting-edge virtual services such as online education, entertainment, cloud computing, and AI products.

I must admit, when I first came across Hyperliquid @HyperliquidX, I was skeptical. I thought of projects like dYdX, which rapidly expanded their user base through airdrops, but lost momentum over time. I started to think Hyperliquid would be the same, with users leaving after receiving their rewards. But Hyperliquid taught me a hard lesson. Even after the incentive program ended, Hyperliquid's popularity continued to soar. Its community transitioned from being incentive-driven to genuinely supporting the product. The moniker 'on-chain Binance'—it is becoming a reality.

This year, there has been a growing interest in tokenized real-world assets (RWA), especially from institutional investors. Well-known financial institutions such as Citigroup, Boston Consulting Group and Standard Chartered Bank have all released predictions that the tokenized RWA market could reach trillions of dollars in the near future. BlackRock has launched a tokenized treasury fund in partnership with Securitize. PayPal successfully introduced the stablecoin issued in cooperation with Paxos to the Solana network at the end of May. Recently, Stripe acquired the stablecoin infrastructure company Bridge for $1.1 billion.

Tokenized risk assets are not a new concept in the blockchain industry. Risk assets cover a wide range of tangible assets (real estate, etc.) and financial assets (stocks and bonds). Tokenization brings many benefits, such as improved capital efficiency and accessibility, agile infrastructure, automation through smart contracts, and enhanced regulatory compliance and transparency.

Reform is the greatest productivity, from Musk "switching" to Trump in the general election to proposing a team structure with an IQ of 200 working 80 hours a week with no pay.

In the end, the knife of cost reduction and efficiency improvement will be slashed at those institutions that have united to fleece the American people. Last week, when the Starship was launched, Trump went to the scene to support it, which also had a connotation. Since Musk supported Trump's election, Musk has frequently received investigations from various California governments and environmental organizations.

For example, will the recovery of the Starship have any impact on sharks in the sea? If not, then check the whales. If the launch is OK, then check whether the recovery will affect the hearing of seals. Musk's response is also extremely straight. He asked SpaceX employees to tie a seal with headphones when the Starship was launched, and finally used data to prove that the launch would not have a fatal impact on the seal.

Recent hot topics have revolved around various themes of memes, which can be termed the 'memecoin super cycle.' The impact of memecoins extends far beyond merely capturing the imagination of cryptocurrency enthusiasts. However, this success is also accompanied by skepticism. Many believe that memecoins are merely for speculation, characterized by high volatility and seemingly lacking intrinsic value.

In cryptocurrency, the value of a token generally consists of three main components:
Store of value: Like gold or bitcoin, tokens can serve as a hedge against inflation, maintaining purchasing power over time. This is the most basic yet challenging form of value, as it requires broad trust and consensus among users.

The violent market finally gave investors who had been struggling in the past a chance to feel proud. Since the dust settled on the US presidential election, the market FOMO sentiment has become increasingly strong, and the BTC daily chart has achieved 7 consecutive increases, which is quite rare.

BTC broke through $70,000 from the bottom range of $67,000. On November 13, it broke through $80,000 again. After the integer barriers were continuously broken through, BTC passed five levels and exceeded $90,000, reaching a high of $93,265.

Ethereum, which was once the subject of crazy FUD, also followed Bitcoin and achieved 7 consecutive daily increases, from the bottom of $2,400 to nearly $3,400, and the highest to $3,387. The market value of Ethereum rose to about $400.07 billion, surpassing Procter & Gamble and ranking 32nd in the global asset market value. After SOL broke through $212, its market value once exceeded $100 billion.

The consumer-grade AI native application market offers tremendous opportunities for growth and innovation. The global AI market is expected to grow from $86.9 billion in 2022 to $407 billion by 2027, indicating that AI agents have huge potential in reshaping the data economy and enhancing user experience.

In the rapidly evolving field of artificial intelligence, a new player has emerged, potentially reshaping how we interact with AI in our daily lives. TROY AI @TROY_DAO (formerly TROY NETWORK) has shifted from the foundation of cryptocurrency trading to the forefront of consumer artificial intelligence technology. This strategic shift reflects a keen understanding of where the true value of AI lies: not just in algorithms, but in the data that supports the algorithms and the user experiences they bring.

In the crypto market, the explosive growth of Meme coins always attracts countless investors, and the emergence of Moonshot @usemoonshot has made this field even more popular. With its simple operation, fiat currency deposit function, strict platform selection, and the ability to accurately capture popular Meme coins on the chain, Moonshot has quickly become a crypto artifact in the minds of young people in Europe and the United States.

It is called the mini-Binance on the chain, not only because it provides users with a convenient way of trading, but also because it breaks the bottleneck of the "last mile" in the crypto market, allowing novices outside the circle to easily participate in it.

Continuing from the last time, let’s look at this issue from the perspective of L2 and the community. If ETH rebounds strongly in the future, the token will also face a dilemma.

In fact, various L2 projects were initially hesitant to issue tokens. In addition to the aforementioned opposition from Ethereum, there are several other reasons: regulatory risks, sufficient funds and no need for additional financing, difficulty in determining the scope of the token’s use, and direct use of ETH will drive TVL and ecological growth more quickly. Issuing your own token may conflict with this goal, and liquidity will never surpass ETH.

BTC and ETH spot ETFs have been listed for some time, and the blockchain industry has entered a new stage of development. At the same time, the direct or indirect holders of blockchain assets have shown a rapid growth. However, the real users in the encryption field have not achieved a corresponding increase.
Users still face high barriers to entry into the application ecosystem of the crypto world. The circulation of users’ assets, data, and tokens is also extremely fragmented under the restrictions of various public chains and applications. This also limits the explosive growth of users, and the potential of the Web3 industry cannot be fully released.

Let me first say the conclusion, halving-driven growth may be the last chapter of this story. The cyclical growth of the cryptocurrency market is always closely related to the macro economy.
Since Bitcoin was created in 2009, its market capitalization of more than $1 trillion would not have been possible without regular injections of liquidity to stimulate the economy.
The only constant in financial markets is change, and even if you manage to hold your position, you have no idea how deep the recession will be.
If we consider the beginning of the bull market from early 2019 to early 2021, the price of Bitcoin was between $4,000 and $10,000, while Ethereum was between $130 and $330. The overall size of the crypto market is relatively small, with plenty of room for growth. Bitcoin's current market capitalization ranks 10th in the world, second only to Facebook, and its growth potential is about 3 times that of Apple and about 15 times that of gold. The growth prospects this time are smaller than in the previous cycle.

Many products are born out of the times. Recently, a hot topic in China is what is the core of the three sheep. Many people in the comment area are saying "321, go to the link" and "family members". If you think about it from another angle, it is true that the most valuable thing about Yang Daxiao Yang and Simba is not the company, but the powerful IP value of themselves.
Now more and more people are aware of the economic benefits of intellectual property (IP). Intellectual property has become an important asset class, covering a wide range of fields from software codes, works of art to scientific inventions. At a time when the global economy is sluggish and the employment situation is severe, the global IP value, the number of patents and trademarks are constantly increasing, and the center of intellectual property is gradually moving to Asia. It can be seen that the future of the IP market is difficult to estimate.

The rise of memecoins is deeply rooted in internet culture, where the virality of memes is exploited to drive their popularity. Initially appealing due to their humor and relatability, memecoins quickly evolved into speculative investments, with prices soaring due to community support and social media buzz.

For example, Dogecoin, once worth less than a penny, soared to over $88 billion in May 2021, fueled by endorsements from figures like Musk and widespread media coverage. This phenomenon illustrates how cultural trends can intersect with economic forces, transforming socially significant phenomena into financially profitable assets.

In the blockchain space, narratives have always been a powerful driver of attention, investment, and growth. A good story will be proportional to the price of the asset, often like a TV plot with highs and lows. The changing landscape has witnessed the rise and fall of various themes from ICOs to DeFi and NFTs, leaving important lessons for investors, founders, and enthusiasts. The narrative shift highlights the dynamic nature of the Web3 space, where trends emerge quickly, peak, and fade away quickly.

Stories are sweeping across the cryptocurrency space like a tidal wave, pushing once obscure concepts into the spotlight.

As OpenAI has launched AIGC models such as ChatGPT and Sora, it has led a new round of AI industry revolution. In the traditional computing power system, mainstream cloud computing service providers usually concentrate computing power relatively closed in multiple data centers consisting of hundreds of thousands of servers, so as to continuously provide computing services to the global network. Alphago, which once defeated Go master Lee Sedol, costs hundreds of thousands of dollars for a single training model. Companies like OpenAI that need to continuously train AIGC models have to pay computing costs that are astronomical figures that we ordinary people cannot imagine.

Be a good dog, don’t scam people。
This is DOGS, which is very popular on Telegram. As the first dog meme on Telegram, DOGS will be launched on Binance and OKX on the 26th. In just two months, the project has spread from popularity to launch. What is the background of DOGS? What will be the performance after launch?
I suffered a floating loss of 83% before the market opened. Thank you so much, DOGS.
The DOGS community has 16 million members and 43.5 million participating wallet addresses, a huge amount of data that is rare in the crypto world. The rapid spread of DOGS is also due to the full use of Telegram's ecological advantages and some publicity plans:

AAVE has been on a good rise recently, with the number of active borrowers on its platform hitting a record high of about 41,000 per week. AAVE has survived the last bull and bear market and reached a record high this year. In this round of borrower growth, BASE and Scroll contributed the most, accounting for 23.4% and 21%, respectively, which also kept AAVE's revenue relatively strong.

In the last bull market cycle, smart contract platforms such as Polygon, Avalanche, and Fantom incentivized a large number of users and liquidity, creating AAVE's peak revenue. From the beginning of this year to now, AAVE's TVL has almost doubled, mainly due to the rise in the prices of collateral assets such as WBTC and ETH. Currently, AAVe's quarterly revenue has exceeded the revenue in the fourth quarter of 2021 during the peak of the bull market.

When the wall falls, everyone pushes it. Ethereum's performance in this round has made it the "Adou" in the eyes of the public, but the pessimism is not without reason. To put it simply, internal expansion plans such as Layer2 have always been unable to stand up, and external killers such as Solana have always been determined to destroy the platform. In addition, Vitalik has been selling off in the name of charitable donations every day. With internal and external troubles and the anxious situation of internal derailment, Ethereum has ushered in its most difficult time.

Although the sexy narrative of Ethereum killers has been falsified in the last round of bull market, this round of high-performance public chains such as Solana and Sui directly hit the soft spot of Ethereum EVM's "low performance". Although they no longer shout to kill Ethereum, it is undeniable that their high concurrency and special Move language security mechanisms can indeed impact Ethereum, especially they may become fertile ground for the growth of a new generation of web3 application ecology, such as DePIN and AI.