Crypto markets are active again, with Bitcoin holding steady above the $60,000 mark amid the interest rate cut cycle. This report will summarize market changes, analyze industry hot spots and potential projects, and help readers grasp the current trends in the encryption market. (Preliminary summary: Everyone is crazy: The "infighting between the two parties" in the encryption industry is heating up as the US election) (Background supplement: RootData: 2024 Q2 Web3 Industry Investment Research Report) This article is a press release, sponsored by TRON This work is provided by the author and does not represent the position of the dynamic zone. 1. Prospects 1. Macro level summary and future forecast Last week, the Federal Reserve cut interest rates by 50 basis points at the September meeting, and the monetary policy statement emphasized the goal of maximizing employment. The Fed's actions indicate that its reaction function has completely shifted from a focus on inflation to a focus on employment. Looking forward, the Fed will maintain a "dovish" stance until the job market stabilizes. 2. Market changes and early warnings in the crypto industry. This is the third time in the history of the Federal Reserve that the Federal Reserve has started an interest rate cut cycle by 50 basis points. This move pushed Bitcoin to a range high of $62,600, which resulted in the price of Bitcoin on multiple exchanges. Short positions were forced to be liquidated. Bitcoin is slowly digesting resistance levels. After breaking through $62,500, the market outlook will be more optimistic, and a position above $65,000 may be expected. 3. Industry and track hotspots This week’s hotspot track performed well. Among them, the Telegram platform unlocked the “mini program” function through Tomo Telegram SDK, bringing a convenient digital asset management experience to 900 million active users. The Tomo platform not only supports multi-chain management, but also provides rich functions such as social login, trader experience optimization, dApp integration, etc., which greatly improves the user experience and is expected to promote the popularization of Web3 services. Other hot topics include the failure of the former SocialFi star project Friend.Tech due to an unsustainable model, reflecting that the development of the SocialFi field still needs to explore a sustainable economic model; Fractal’s “head mine” Flux has attracted market attention, but its foundry website exists Risks, participants need to be cautious; Huma Finance received US$38 million in financing, and its income-based lending protocol performed well in the market environment and is expected to promote the listing of real-world assets on the chain. 2. Market hot spots and potential projects of the week 1.Hot track performance 1.1. Tomo Telegram SDK unlocks the "Mini Apps" function for 900 million TG users. A topic that has attracted widespread attention recently is the embedded mini programs (Mini Apps) of the Telegram platform. Telegram 每月9 億的活躍用戶代表了一個龐大且高度參與的受眾群體，Telegram 小程式提供了新的機遇——方便、整合的服務，無論用戶是在購物、玩遊戲還是管理社區，都不必離開app. On the Tomo platform, users can easily manage assets, send each other cryptocurrencies, chat, post content, make friends, participate in the crypto community, and trade based on the latest market dynamics. Cross-Platform Social Login Integration: Tomo allows users to access their wallets through a simple and secure social login, eliminating the need for multiple passwords and mnemonic phrases. Support users to create and connect wallets using social accounts such as X (Twitter), Facebook, Google, Apple, etc. This feature ensures a smooth user experience across different platforms including iOS, Android, Web and Apple Vision Pro, making managing digital assets easier than ever. Rich asset management integration: Tomo wallet supports multi-chain management functions for Bitcoin, Ethereum, Cosmos, Solana and various EVM chains. We provide users with a variety of asset management capabilities from basic send/receive functionality to dApp integration. Tomo also integrates cross-chain exchange functionality, allowing users to easily exchange tokens between different blockchains with one click. Enhanced trader experience: Tomo is a wallet rooted in Web3, dedicated to helping users keep up with all important market developments. When using Tomo Wallet, users can find a like-minded crypto community and receive the latest market news, including full trading functionality, allowing users to easily purchase cryptocurrencies via crypto or integrated fiat channels. dApp integration: Tomo Labs provides a toolkit to help dApps integrate wallet services into their products, and users can smoothly connect Tomo wallets or third-party wallets to dApps. Through unique trading capabilities, Tomo Wallet provides users with a smooth experience to explore new Web3 products using their existing assets. Security: Tomo uses state-of-the-art security measures to protect user assets and data. From secure hardware wallets based on the Trusted Execution Environment (TEE) to strict access control and authentication protocols, Tomo ensures that users’ digital assets are always safe and accessible. Conclusion Tomo Telegram SDK makes it easy to integrate multiple wallets, giving users the flexibility to connect their preferred options. Simplify the user registration process using Tomo’s built-in social login feature, without the need for specialized blockchain knowledge. Supporting multiple blockchains (including TON, Bitcoin, EVM-compatible networks, Solana, etc.) provides developers with the flexibility to build diverse dApps, and Tomo is developing more integrated functions, such as exchange and deposit components, so that Users can more easily trade tokens and convert fiat currencies into cryptocurrencies within Telegram. These upcoming features will simplify access to Web3 services and increase user engagement. 1.2. Friend.tech, the top leader in SocialFi in the past, has finally run away. Where will SocialFi go? The developers of year-old Web3 social network Friend.Tech have given up control of their smart contracts and the platform has shut down, The Block reports. Friend.Tech set a record of daily revenue exceeding that of Ethereum in just over a month after its establishment, and it was an instant success. After October 2023, Friend.Tech began to decline. Is the price curve being pushed higher in the short term sustainable? In fact, many users are just speculating or obtaining token incentives, which is why Friend.Tech has such active transactions in the short term. According to analysis, the highest trading volume was in the first three months, and then fell silent. The second relative high was in May 2024. At that time, Friend.Tech launched the V2 version and issued the platform token FRIEND, and points within the platform could be used to redeem the token. Although the launch of V2 and token airdrops brought some users to the platform, these so-called "innovations" actually failed to save Friend.Tech's decline. The protocol fees soon began to stagnate. Since June 2024 , V2 only incurred approximately $60,000 in protocol fees. In July 2024, its daily active minimum was 15 people. Conclusion Fr...

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