On-chain monitoring shows that market maker Amber Group deposited 3.49 million Virtual tokens (worth $3.04 million) into Bybit, causing the token to spike 40.5% temporarily, followed by a decline for 7 hours, currently priced at $0.8529, close to pre-operation levels.
Ethena unlocked 2.07 billion ENA (worth $740 million), accounting for 39.17% of circulation. In the past two days, 12 wallets deposited 125 million ENA (worth $45 million) into exchanges like Binance and Bybit, potentially exerting selling pressure on the token price.
The Trump family's World Liberty Fi (WLFI) project purchased $10 million in ETH, $10 million in WBTC, and $1.5 million in MOVE tokens through independent contracts, with assets transferred back to the main wallet, seen as a signal for crypto market positioning.
Bitcoin's daily increase exceeds 7%, breaking through $90,000, Ethereum rises 8%, Cardano (ADA) surges 24%, and mainstream coins like SOL and DOGE follow suit.
In the past 24 hours, the total liquidation amount across the network reached $534 million, with over 160,000 investors liquidated. The largest single liquidation occurred on Binance's XRP contract, amounting to $6.82 million.
Institutional movements: The spot Bitcoin ETF continues to attract funds, with a cumulative net inflow of $30.7 billion since its launch in 2024, significantly surpassing the performance of gold ETFs during the same period, pushing BTC's dominance to 62%.
Trump's 'Cryptocurrency Strategic Reserve' plan requires legislative support from Congress, but currently, the U.S. Congress is focusing on stablecoin regulatory bills, leaving the actual funding scale and legality of the strategic reserve in doubt. Senator Cynthia Lummis's Bitcoin bill has not yet passed, raising market concerns that policy benefits may turn out to be short-term speculation.
Summary of Trump's Joint Address to Congress on March 5, 2025 (Non-complete version, cryptocurrency not mentioned)
Speech Background Time and Place: March 5, 2025 (March 4 at 9 PM ET for the US, 10 AM +08 for Beijing), Trump delivered a speech in the House Chamber of the Capitol in Washington, D.C. Nature: This is his first formal speech to a joint session of Congress after the start of his second term (inauguration on January 20), although it is not a traditional "State of the Union" address (as new presidents typically do not call it SOTU in their first year), its function is similar, aiming to summarize achievements and look forward. Duration and Progress: As of 11:50 +08, the speech has been ongoing for about 40-50 minutes and is still continuing.
March 4, 2025 - Events in the Cryptocurrency World Bitcoin's intraday drop exceeded 11% (falling below $83,000), Ethereum dropped 17%, and Cardano dropped 28%, triggering liquidations for 310,000 people, amounting to $1.07 billion. The daily user migration to the Web3 mainnet surpassed 402,000, primarily due to advancements in Layer 2 scaling and cross-chain interoperability. Binance has incorporated the Web3 mainnet into the 'Layer 2 Innovation Zone' and supports the WB3/BTC trading pair, while Huobi has launched the 'Layer 2 Ecosystem Acceleration Program', offering $1 million in liquidity mining rewards. The Web3 Foundation has initiated a compliance audit, planning to release a 'Decentralized Infrastructure Compliance White Paper' in Q3 to address the U.S. SEC's regulatory inquiries regarding Layer 2 projects. DeFi and NFTs: The mainnet's Total Value Locked (TVL) surpassed $10.7 billion (Aave's TVL increased by 680%), and the NFT market's daily trading volume reached $50 million. The supply chain finance platform Web3Supply has connected to the mainnet, and DHL has completed $320 million in goods tracking. TabbyPos integrates digital tokens to combine blockchain with physical business payment scenarios. Trump announced tariffs on goods from Canada and Mexico, increasing market risk aversion. Trump will attend the first White House Digital Currency Summit on March 7, hosted by the SEC chairman, to discuss digital asset regulation and strategic reserve plans, with XRP and others potentially included as reserve currencies. The U.S. Congress has formed a bipartisan cryptocurrency core group to promote pro-cryptocurrency legislation. The SEC's cryptocurrency working group officially announced that the first roundtable meeting will be held on March 21. The Trump administration plans to announce a zero capital gains tax policy on cryptocurrency sales at the crypto summit on Friday. The exchange OKX may face fines exceeding $500 million for violations. DeFi Recovery: DEX trading volume accounts for 14% of CEX, and on-chain lending and yield protocols are regaining institutional favor due to regulatory clarity. The Chicago Mercantile Exchange (CME) plans to launch Solana futures on March 17. Grayscale has submitted a Hedera ETF application, and Bitwise has submitted a Dogecoin ETF application. The cryptocurrency fear and greed index has dropped to 15 (extreme fear), a significant decline from the previous day’s 33. On March 4, the market presented a 'tale of two extremes': the Web3 mainnet ecosystem is rapidly developing, with accelerated technology iterations and compliance processes; while the cryptocurrency market is impacted by geopolitical and regulatory uncertainties, leading to severe short-term volatility. Future attention should be paid to policy signals from the U.S. Digital Currency Summit and the progress of Web3 mainnet Q2 sharding technology.
March 3, 2025: What's Happening in the Crypto World
Former President Donald Trump announced that XRP, SOL, ADA, BTC, ETH will be included in the national cryptocurrency strategic reserves and emphasized BTC and ETH as core assets. On the eve of the announcement, an investor turned $4 million into $7 million using 50x leverage, sparking controversy over ‘insider harvesting’.
State Street Bank predicts that total assets in cryptocurrency ETFs will exceed North American precious metals ETFs ($165 billion) by the end of 2025, becoming the third-largest ETF asset class. The SEC is expected to approve more tokens' ETFs (such as SOL, XRP) within the year, boosting market liquidity.
The first U.S. cryptocurrency summit will be held on March 7, with attention on Trump's policy direction and the SEC's regulatory framework. The market bets the probability of the U.S. establishing a Bitcoin reserve has risen to 62%.
Controversy: The Trump team hinted at possibly using “200,000 confiscated BTC” as reserve assets, but Bloomberg and others question this move as “using taxpayer money to buy digital tulips.”
Options market frenzy: Deribit data shows a large amount of funds betting that Bitcoin will surpass $100,000 by the end of the year, with options volatility hitting a new high for the year.
Bitcoin ETFs recorded a net outflow of $2.61 billion in February, but selling pressure may have stopped. Multiple addresses withdrew Bitcoin from exchanges, with a single-day maximum withdrawal of 600 BTC (approximately $51.5 million).
Tokens like ENA, BERA, APT will see significant unlocking this week, with ENA unlocking worth $985 million (accounting for 66.19% of circulation), which may trigger selling pressure.
The Web3 mainnet has accumulated 11.588 million migrated accounts, with only 1.658 billion circulating tokens, highlighting scarcity. CoinMarketCap officially certified its trading data, enhancing market credibility.
Policy shift: The U.S. SEC abruptly dropped lawsuits against Coinbase and Uniswap, interpreted by the market as a softening regulatory stance. Combined with Trump's “pro-crypto” position, expectations for institutional entry are increasing.
Market sentiment: The Fear and Greed Index rose to 33 (still in the “fear” zone), reflecting short-term volatility risks.
Summary On March 3, the market's core revolves around Trump’s “crypto strategic reserves.” Short-term sentiment is dominated by policy expectations, but long-term implementation still requires Congressional legislative support. Investors should be wary of the potential “good news fully priced in” risk from the March 7 summit while also monitoring regulatory dynamics and on-chain fund flows.
Today at noon, the cryptocurrency market presents a bleak scenario. The price of Bitcoin briefly fell below $80,000, down nearly 40% from the high on January 20, and about 25% from its historical peak; Ethereum dropped over 6%, SOL dropped over 7%, and Dogecoin also dropped over 7%. In such a market, the following advice is given to investors:
First, calmly analyze market trends. The cryptocurrency market is highly volatile, and this decline may be the result of multiple factors, such as changes in market supply and demand, policy adjustments, etc. Investors need to closely monitor market dynamics, analyze the reasons for the decline, and determine whether it is a short-term adjustment or a long-term trend shift.
Second, reasonably assess your own risk tolerance. If your investment funds account for a large proportion of your personal assets and you cannot bear significant losses, it is advisable to appropriately reduce your position to lower risk exposure. For investors with a higher risk tolerance who are optimistic about the long-term development of cryptocurrencies, they can continue to hold, but should ensure proper asset allocation to avoid over-concentration in a single cryptocurrency.
Furthermore, do not blindly follow the crowd. In the market, various messages and emotions can easily influence investors' decisions. Do not blindly follow trends to buy or sell due to short-term price fluctuations; have your own independent judgment and investment strategy.
Finally, maintain a learning and research attitude. The cryptocurrency market is complex and ever-changing, and investors need to continuously learn relevant knowledge and understand industry dynamics and technological development trends, in order to better respond to market changes. #加密货币 #暴跌 #美SEC:Meme币非证券 #比特币价格走势分析
The FBI confirmed that the North Korean hacker group Lazarus Group was the attacker, transferring over 206,000 ETH (approximately $1.5 billion) by exploiting vulnerabilities in the Safe{Wallet} infrastructure.
The Safe team stated that the attack originated from an intrusion on the developer's machine, rather than a vulnerability in the contract or frontend code, but Bybit accused them of vague wording in their report, leaving key issues unexplained. CZ (Zhao Changpeng) also publicly questioned the transparency of the incident's attribution.
Bitcoin's daily drop reached 3.6%, briefly falling below $85,000, marking a new low since November 2024; Ethereum dropped to around $2,100, with over $1.868 billion in liquidations across the network in 24 hours, affecting 310,000 investors. The fear and greed index fell to 10 (the lowest since June 2022), plunging the market into extreme fear.
February 26th Key Events and News in the Cryptocurrency Space
SEC Ends Investigation of Uniswap: The U.S. Securities and Exchange Commission (SEC) has concluded its long-term investigation into Uniswap Labs without taking enforcement action, viewed as an acknowledgment of DeFi compliance.
Grayscale's Ethereum ETF Staking Application Accepted: The SEC has confirmed receipt of Grayscale's application for a spot Ethereum ETF, which plans to support staking functionality, promoting the institutionalization of Ethereum.
Oklahoma Passes Bitcoin Reserve Bill: The bill allows state governments to invest up to 10% of public funds in Bitcoin or digital assets, and it has entered the on-site voting phase.
Panic Index Hits New Low: The cryptocurrency Fear and Greed Index has dropped to 21, the lowest level since September 2024, reflecting a gloomy market sentiment.
Continued Capital Outflow: The Bitcoin spot ETF BITB saw a net outflow of $88.3 million in a single day, with an overall net outflow of $85.8 million for BTC, indicating significant risk-averse demand.
Bitcoin: The intraday low trading range is $87,000 - $91,200, with a bearish technical outlook, and a short-term possibility of testing support at $85,300 - $86,700.
Ethereum: Prices fluctuate around $2,300 - $2,530, and if it falls below $2,430, it may further retrace, but the fundamental narrative (such as ETFs) may limit deep declines.
Panic Index: 21 (Extreme Fear)
Total Market Cap of Stablecoins: $226.5 billion, weekly growth of 0.54%
Solana Proposal Open for Voting: Proposal SIMD-0228 aims to shift SOL issuance to a market-driven model, adjusting the token economic model to enhance sustainability.
Redstone Launches on Binance: The cross-chain oracle project Redstone (RED) will be listed on Binance on February 28th, with a market capitalization expectation of $2 billion, competing with Pyth.
MKR and Other Stablecoin Protocols Rise: The stablecoin deposit rewards vault launched by MKR offers an 8.5% return (paid in SKY tokens), attracting risk-averse capital inflows.
Global Money Supply Boosts Crypto Market: M2 growth and liquidity easing may drive Bitcoin up, but analysts warn of the need to be cautious about over-reliance on this signal.
U.S. Treasury Yields and Economic Risks: The 10-year U.S. Treasury yield has fallen below 4.3%, increasing economic downward pressure, which may drive funds towards safe-haven assets like Bitcoin.
According to Coinglass monitoring, the most severe leveraged liquidation of the year occurred here in the past 24 hours.
The total liquidation amount reached $879 million, skyrocketing 580% compared to the previous day, setting a single-day record for 2024. The long-short battle is severely unbalanced, with long liquidations amounting to $815 million, accounting for 92.7%, while short liquidations totaled $64.22 million, with the plummeting market dominating.
The leading cryptocurrencies suffered heavy losses in this storm, with Bitcoin (BTC) liquidated for $240 million, Ethereum (ETH) $187 million, and Solana (SOL) $98.23 million, with these three major cryptocurrencies accounting for over 60% of the total liquidation amount. Even more heartbreaking is that 294,000 investors encountered the misfortune of 'account zeroing', with the largest single liquidation occurring in the BitMEX XBTUSD contract, amounting to $10 million.
This event has had a profound impact on the market. Platforms like OKX and Binance saw a sharp decline of 22% in BTC contract positions, and a large number of forced liquidations exacerbated price volatility. The cryptocurrency Fear and Greed Index dropped from 82 (extreme greed) to 64 (neutral) in a single day, indicating a rapid cooling of market sentiment. Moreover, altcoins were not spared, with the top 4-10 on the network's liquidation list being small to mid-cap coins, some of which saw declines exceeding 30% within 24 hours.
This wave of liquidations exposed three major risks in the crypto market: high leverage traps, with mainstream platforms offering up to 125x leverage, where a 5% price fluctuation could wipe out the principal; a contract liquidity crisis, where insufficient exchange depth under extreme market conditions leads to increased slippage; and the meme coin backlash effect, where speculation in the SOL ecosystem has heightened the overall risk exposure.
If you don’t understand the market, observe first and don't guess the market!!! If you don’t understand the market, observe first and don't guess the market!!! If you don’t understand the market, observe first and don't guess the market!!!
The darkest moment of Dogecoin and the glimmer of light of believers
The recent sharp drop in network activity and the market unlocking tide of Dogecoin have become the focus of everyone's attention. The DOGE chain data has a comprehensive warning: the withdrawal of whales and the superposition of the unlocking tide have increased short-term risks.
DOGE's network activity has fallen to the lowest point since October 2024. Specifically, there are only 66 large transactions per day, which is nearly 88% lower than the peak. The number of active addresses has also fallen below 60,000, and the participation of retail investors has decreased significantly. In addition, the market will unlock more than 465 million US dollars in the next 7 days, and DOGE is also among them, which undoubtedly puts a lot of pressure on the market.
From a technical point of view, the MVRV ratio has a death cross, which has often heralded a sharp drop in prices in history. Although the RSI is oversold, the momentum of the rebound seems insufficient. In this case, it is recommended that everyone wait and see in the short term and pay attention to the key support level of $0.25. If it falls below this position, there may be more room for decline.
Historically, DOGE has plummeted by 26%-44% after the MVRV ratio has a death cross. Now, the technical side has sounded the red alarm. Although some people are still waiting for Musk's shouting, the risks in the market cannot be ignored.
Darkest moment? History tells us that DOGE has repeatedly "exploded after false death". The hibernation of giant whales may be the calm before the storm. Musk's tweet can ignite the market, and faith has never disappeared.
From a technical point of view, RSI is oversold and the strong support of $0.25, the opportunity may be left to the brave. Is the unlocking tide a crisis or a turning point? Perhaps it is the smoke bomb of the main force to absorb funds. At this time, faith may be more important than gold.
On-chain indicators show that whale trading volume fell 69% week-on-week, and network activity shrank 97% year-on-year. The death cross of the MVRV ratio further confirmed the bearish signal.
In terms of price trend, the current support level is $0.25. If it is lost, it may drop to $0.20. The rebound needs to break through the 50-day moving average resistance of $0.332. Derivatives signals cannot be ignored either. The surge in option trading volume by 79% indicates an outbreak of volatility.
In general, the long-short game of DOGE has intensified, and the short-term direction needs to be broken. In this uncertain market, it is most important to stay calm and rational and do a good job of risk management. #加密货币 #DOGE #市场分析 #投资风险
#PAWS removed from Telegram channel? Latest progress overview👇
1️⃣ Official statement: not running away, but the channel was banned due to chain conflict: Telegram mandated the use of the TON chain, while PAWS was developed on Solana, leading to the termination of cooperation, so you won't see PAWS in Telegram now.
2️⃣ Airdrop distribution status: only **14%-15%** of users are eligible (must complete transactions, verification, etc.).
3️⃣ Follow-up progress NFT trading online: 300,000 PAWS can be minted into NFTs (≈0.07SOL) and traded on MagicEden
📢 PAWS mining has ended, the Telegram mini-program has been disabled, personal information can be checked through the official website channel https://paws.community/app
⚠️ Risk warning: Airdrop returns are uncertain, please participate rationally!
Six years of hard work, Pi Network's highlight moment
At 4 pm today, Pi Network finally ushered in its highlight moment. At this moment, the eyes of global cryptocurrency investors are focused on Pi Network. However, the launch of Pi Network was not smooth sailing, and there were many controversies and challenges behind it.
The main controversies of Pi Network: Question of pyramid scheme model: Pi Network's invitation mechanism and first-level recommendation relationship have always been questioned as a pyramid scheme model. Although the project party emphasized that this is a social network-based promotion method aimed at expanding the user base and enhancing the decentralization of the network, these controversies have affected the image and acceptance of Pi coins in the market to a certain extent.
History of mainnet delays: Pi Network's mainnet schedule can be called a "delay textbook". Since its launch in 2019, the mainnet has been delayed many times, resulting in a decline in community trust.
Valuation bubble: Based on the maximum supply of 100 billion pieces, if Pi coins reach $1, its fully diluted valuation (FDV) will be as high as $100 billion. However, only 2 billion Pi coins have been migrated to the main network, and the remaining 98 billion coins need to be gradually released through mining. If the team controls the unlocking rhythm, it may trigger a panic of selling pressure. In addition, the existing 80 DApps are mostly tool applications, lacking value capture scenarios such as DeFi and NFT, and the ecological hematopoietic ability is questionable.
Regulatory risks: Pi Network's compliance strategy hides risks. Users need to submit information such as ID cards, facial recognition, and proof of residence, which poses a risk of data leakage. In addition, if the SEC determines that Pi coins are securities, its US ecosystem may collapse instantly.
Despite the constant controversy, Pi Network's potential and prospects are still worth looking forward to. The project party needs to improve market recognition, respond to regulatory challenges, optimize the token economic model, reasonably control the token unlocking rhythm, avoid triggering market selling pressure, and enrich application scenarios to improve the ecological hematopoietic ability.
The future of Pi Network is full of uncertainty, but its huge user base and innovative mining model provide it with a solid foundation. How to find a balance in the controversy will be an important issue that the Pi Network team needs to face, and here we also hope that Pi Network will get better and better.
On February 17, a man named Hu Lezhi threw 500 ETH (≈1.38 million dollars) into a black hole and left a message saying: "I am a brain-machine slave." Just like that, a thing that sounds like a plot from a science fiction novel is really happening around us.
He donated 1.91 million dollars to WikiLeaks, 1.87 million dollars to charity, and finally burned 500 ETH to the void.
Within 3 hours, the dog coin named after him reached a market value of 15 million, and then halved to 4.3 million. The dealer changed the contract overnight, and retail investors cried to take over...
Let's not talk about whether this is true or not, just for this behavior, it is definitely the ceiling of "performance art" in the currency circle.
Recently, there have been many operations in the currency circle, and now there is such a thing, making the currency circle, which is already full of uncertainty and risks, even more magical.
Where will the development of technology take us? Is it more freedom and innovation, or, as Hu Lezhi said, a tool of "control" and "persecution"?
He accused of being controlled by a brain-computer interface, while Musk's Neuralink is restoring sight to the blind. Is technology the savior or the new slave owner?
Behind Hu Lezhi's destruction of a large amount of ETH and donation, was it really controlled by brain-computer weapons, or was it just an extreme personal performance art?
If the claim of brain-computer weapon control is true, does it mean that technological development has exceeded the controllable range of humans and posed a serious threat to personal freedom and privacy?
In the field of cryptocurrency, do the frequent occurrence of various bizarre events reflect the lack of market supervision and investors' neglect of market risks?
Is the opaque supervision of the cryptocurrency market the root cause of the chaos in the market?
Is the future of the cryptocurrency market full of hope or crisis?
The future has come, but the road is still long...
The cryptocurrency market has been so surreal recently that even screenwriters wouldn't dare to write it—
Trump Coin (TRUMP) skyrocketed to a market value of 15 billion, only to halve by 60% in a week, with a 24-hour explosion of 346 million dollars.
The SEC has a new leader, Bitcoin ETF has absorbed 1.1 million BTC, but Congress is entangled in a 18 trillion deficit, and policies could flip at any moment.
Coinbase is offering BTC-backed loans, Tradable moved 1.7 billion in credit to the blockchain, looking impressive? In reality, Plume Network boasted 4.5 billion in assets before launch, but the TVL is only 64 million, filled with the cries of retail investors.
Ethereum upgrades are being hyped to the skies, new public chains like SUI are valued at 54 billion, but the actual code is thinner than the white paper.
In short, one is more surreal than the other. The Trump family, Wall Street capital, project teams, exchanges, retail investors…everyone wants a piece of this feast. The result is an extremely crowded market, with the number of coins exploding from thousands to tens of millions. Musk is issuing coins, Trump is issuing coins, even the presidents of Central Africa and Argentina have started to issue coins, and even Xue Manzi has started to issue coins...on-chain projects are as numerous as the stars, but most end up at zero. The crypto space has shifted from a “wealth-making machine” to a “coin-making factory.”
The pie is only so big, but the number of people fighting for the meat is increasing. In the past, institutions would have a bit of a strategy when trading, considering long-term effects when pushing prices. What about now? New coins start to go to zero as soon as they reach a few million in market value, and as soon as the price rises a little, someone dumps to cash out, quickly running away after getting a bit of profit. No one wants to be the last one holding the bag, and the result is a market that is becoming increasingly short-sighted and restless.
CZ (Changpeng Zhao), the founder of Binance, has recently become famous for his dog. In February 2025, CZ revealed on social media that he had a Belgian Malinois, sparking heated discussions and speculation in the community. Netizens speculated on the dog's name, and a number of Meme tokens with the image of the dog breed appeared on the chain. On February 14, CZ announced that the dog's name was Broccoli, and explained that the name was similar to the pronunciation of "blockchain", symbolizing the connection with cryptocurrency.
Behind this seemingly simple dog name announcement is the madness and disorder of the cryptocurrency market. Community members actively participated in speculation, and Meme coin issuers and early investors also took the opportunity to profit. However, investors who blindly followed the trend suffered huge losses. When CZ announced the dog's name, the prices of many Meme coins fell rapidly, and some investors lost all their money.
At the same time, the BNB Chain ecosystem was also affected. A large number of users created and traded Meme coins, resulting in huge data pressure on the chain and infrastructure failures. Some members of the community also paid too much attention to the incident and invested a lot of time and energy, but failed to get the expected returns.
The CZ dog name incident showed us the multifaceted nature of the cryptocurrency market. While promoting market development, community culture may also lead to market bubbles and risks. When pursuing wealth, investors need to remain rational and calm, and be wary of market risks and uncertainties. Only in this way can they achieve long-term development and success in the cryptocurrency market. Tags #CZ #加密货币 #市场理性 #Meme币
Pi coin is listed on OKEx, is it a myth of getting rich quickly or a new way to cut leeks?
Pi coin announced its listing on OKEx (OKX) exchange. As soon as the news came out, the entire currency circle exploded. Pi coin, known as the "ancestor of mobile mining", has finally emerged from the gray area, but the story behind it is not that simple.
Pi coin is a "hot commodity" in the eyes of the middle-aged and elderly groups. The slogan of zero-cost mining has attracted more than 35 million users worldwide. The seemingly simple mining game actually hides a mystery: Recommended rebate pyramid: For every head pulled, 30% mining acceleration is rewarded. Hungry marketing: "Early participants will receive a thousand-fold return." Brainwashing community operation: "Wealth lectures" three times a day in the morning, noon and evening. These routines have allowed Pi coin to spread rapidly, but they have also caused conflicts in many families. According to data from the anti-fraud platform, in 2022 alone, more than 200 middle-aged and elderly people had fierce conflicts with their children because of investing in Pi coin.
The technology of Pi coin has also been questioned. Technical expert Li Ming pointed out: "The blockchain of Pi coin is still a centralized server. The so-called main network has been delayed five times in three years. This is more like an advanced point game than a cryptocurrency."
The blueprint of the financial empire drawn by the project party is becoming more and more bizarre: from decentralized social networking to cross-border payments, and even to building a metaverse economic system. But the reality is that the transfer success rate of its wallet function, which has been tested for three years, is still less than 60%.
In this national carnival, the most dangerous thing is cognitive dislocation. Lao Chen, a 60-year-old Zhejiang businessman, mortgaged his property to buy Pi coin. He firmly believes: "Didn't no one believe in Bitcoin at the beginning?"
Coin circle analysts gave amazing data: 94% of the "innovative currencies" that landed on second-tier exchanges in the past three years returned to zero within half a year. Those projects that claimed to subvert the financial order eventually became bloody nutrients in the exchange's traffic pool.
When the sword of supervision was hanging high, the exchange and the project party staged the last crazy dance. In this game of passing the flower, those who can really get away unscathed are always those who quietly leave before the gong sounds. What is left for ordinary investors may only be a string of numbers that can never be withdrawn, and a mining button in the phone that will never light up again.
Are NFTs just a fleeting bubble or a future opportunity in the digital age? Today, I’d like to share my views with you.
NFTs, or Non-Fungible Tokens, are essentially a way to certify digital assets based on blockchain technology. They provide a unique “digital identity” to digital works, addressing the long-standing issues of copyright and ownership in the digital realm. Each NFT carries specific digital content and information, whether it’s an artwork, music, video, or in-game items, all of which can be uniquely identified and traced for ownership through NFTs. This provides creators and investors with a new mode of value transmission and trading.
⭐️ NFTs offer creators a completely new mechanism for copyright protection and revenue distribution, helping to resolve issues of infringement and profit-sharing in the traditional content industry.
⭐️ NFTs can be used to build decentralized identity systems, helping users securely manage personal data and digital identities across different platforms and applications. Users can prove their identity, educational qualifications, professional credentials, etc., through NFTs without needing to repeatedly submit various proof materials, enhancing the efficiency and security of identity verification.
⭐️ NFTs can serve as virtual assets on social platforms, enhancing users’ sense of participation and belonging, and promoting community formation and development.
From the above, it is clear that NFTs do have practical application scenarios, but it is also undeniable that a bubble has formed during the development of the NFT market.
In 2021, the NFT market experienced explosive growth, with artist Beeple's work “Everydays: The First 5000 Days” selling for $69.3 million at Christie’s auction house, marking a milestone event in NFT history.
After that, a large amount of capital and speculators poured in, with many projects lacking real value support, relying solely on hype and concepts to attract investors, leading to a significant market bubble. Entering 2022, with the overall downturn in the cryptocurrency market, tightening regulatory policies, and a decline in user interest, the heat of the NFT market began to cool down, trading volumes drastically shrank, and many once-thriving NFT platforms gradually declined.
The essence of this chaos can be attributed to the lagging regulations and laws following the emergence of new phenomena.
The myth of making money through airdrops is shattered: Who is stealing the fairness of Web3?
The recent airdrop event of Berachain has caused considerable controversy in the cryptocurrency circle, and has also made everyone pay more attention to the problems of Web3 airdrop ecology.
Airdrops were originally a way to attract users and give back to the community, but now they often become a "game" between project parties and capital players.
😡In Berachain's airdrop, test network users worked hard and earned $1 per person, but 6 NFT big players raked in $300 million!
😡ZKsync's secret operation: 1.3% of the addresses eat up 24% of the tokens, and ordinary players are not as valuable as a penguin NFT (Pudgy Penguins make money lying down)
😡LayerZero mistakenly killed millions of users: In order to prevent "witches", it would rather kill 100,000 by mistake, and the ENS domain name party was innocently shot!
This "rich-poor disparity" makes many ordinary users feel dissatisfied and feel that they have been "cheated". Moreover, the airdrop rules of the project are not transparent enough. Berachain has not disclosed the airdrop algorithm, and ZKsync has also been questioned for distributing tokens to some NFT holders who have not participated in the ecosystem.
The original intention of airdrops was to attract users, but now many users are disappointed. In the face of these problems, we need to rethink the mechanism of airdrops and return airdrops to the essence of "contributor priority". The project party should disclose the airdrop parameters, introduce third-party audits to verify the rationality of the rules, and let users truly understand the airdrop allocation mechanism. At the same time, DAO governance can be tried to allow users to participate in rule design and let the voice of the community be heard.
In addition, a gradient distribution method can be used to dynamically adjust rewards according to the user's contribution, limit the monopoly of giant whales, and allow ordinary users to get the returns they deserve.
Airdrops should not be a "wealth transfer game", but a bridge of trust between project parties and users. Only through transparent rules, community co-governance and technological iteration can the trust foundation of the Web3 ecosystem be reshaped and value creators can share value. This is the ultimate answer to the spirit of decentralization. #空投 #Web3 #散户 #撸毛党
Everyone knows Sima Zhao's intentions; he wants to have it all, haha.
元行者
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The market unexpectedly flew out of the "black swan"! #Binance, #DeepSeek triggered a surge in the market. The former richest Chinese rarely spoke out! The meme coin#TSTcreated by the BNB Chain team for demonstration and teaching launched by Binance, the world's largest crypto exchange, unexpectedly triggered the market boom and became a "black swan" event on the weekend. Binance announced the listing of TST tokens to trigger the market. Binance suddenly announced on Sunday (February 9) that it would start TST/USDT and TST/USDC transactions at 19:00 Beijing time on February 9, 2025, and add seed tags to them. GMGN data shows that after the news of Binance Alpha's listing of TST came out, TST rose to a maximum of US$0.227, and then fell sharply, with the deepest drop to US$0.091. However, after Binance announced the launch of TST, TST rose again, soaring by more than 300% in half an hour, reaching a maximum of US$0.528. As TST surged again, CoinMarketCap data showed that its market value once climbed to $360 million. In addition, Binance Coin also saw a short-term surge, but soon fell back to $616.21. The former richest Chinese and founder of Binance said that like all meme coins, he had never bought or owned TST tokens. Now it is a completely community behavior, calling on the market to protect itself and be responsible for its own behavior. He also reiterated: "It's not just me, but also my community. TST tokens have nothing to do with me." It is worth noting that Zhao Changpeng has always remained neutral on meme coins in the past. Although he has repeatedly stated in recent days that he does not want to endorse TST tokens, now Binance has quickly listed TST, which inevitably gives people a sense of careful planning, and speculates whether Zhao Changpeng intends to promote his own BNB Chain ecosystem. DeepSeek officially clarified that "it has never issued any virtual currency." On the same day, the prices of some fake DeepSeek tokens quickly "cleared to zero", and many virtual currencies named DeepSeek, DeepSeekAI, DeepSeekR1, etc. have now "turned off." Security company BlockAid reported that 75 fake DeepSeek tokens have been created on the Ethereum and Solana networks, with a fraud amount of 420 million yuan. In fact, this is a typical chaos in the cryptocurrency market - price manipulation, information asymmetry, investors blindly following the trend, etc. But behind these superficial phenomena, are there deeper things worth thinking about? #TST #币安 #DeepSeek #赵长鹏