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The Shanghai State-owned Assets Supervision and Administration Commission held a study meeting to discuss the development of Crypto Assets and stablecoins, sparking heated discussions in the market regarding policy signals. Bitcoin prices have risen significantly, and related stocks in Hong Kong and A-shares, such as Guotai Junan International, have also climbed. Companies like Ant International and JD.com are actively positioning themselves in the stablecoin market, reflecting the market's response under policy promotion. However, the core ban on Crypto Assets trading in mainland China remains unchanged.

8 dormant Bitcoin addresses that had been inactive for 14 years suddenly activated, causing market panic. The market speculates that this may be related to independent miners from 2011, whose holdings cost is extremely low. Some analysts believe the activation is a test of whale strategies, with limited short-term impact on the market. At the same time, new U.S. legislation and banking system policies may drive U.S. stocks and Bitcoin to continue to rise, with a bullish outlook for the future.

The U.S. House of Representatives passed Trump's massive tax and spending bill, affecting various groups, including the elderly, students, and low-income individuals. The bill extends tax cuts, implements work requirement conditions, and cuts benefits such as Medicaid, while offering varying degrees of tax relief to taxpayers and the wealthy.

The U.S. economic data performed strongly, with non-farm payrolls exceeding expectations and a decline in the unemployment rate, strengthening the expectations for interest rate cuts. However, the probability of a rate cut in July is not high, while a rate cut in September remains possible. Bitcoin continues to rise under institutional support, with expectations of hitting 200,000 by the end of the year resurfacing, but the overall bull run may be slower, requiring attention to changes in the macroeconomic environment.

For many years, the XRP token has puzzled me. Its native Blockchain—XRP Ledger has almost no practical use apart from speculation and trading, yet this asset consistently ranks among the top five in market capitalization for Crypto Assets.
In the past few years, the company had a very convenient excuse – no one wanted to cooperate with them because everyone considered them a "tainted company" unjustly sued by the SEC. But now this lawsuit is nearing its end, and the company no longer bears the red mark. So does this mean that the XRP Ledger and its stablecoin will truly develop, thereby proving that the high valuation of XRP Token is justified? I'm not sure.
The legal tug-of-war for Ripple has ended, but where should XRP go after shifting to stablecoins?
The company is finally set to end its lawsuit with the U.S. Securities and Exchange Commission (SEC). But its Blockchain

Recently, with the good performance of cryptocurrency stocks like CRCL and HOOD, many investment friends have raised several valuable questions: "If the stablecoin bill is truly passed, where will the market's incremental growth appear?" "Why do coins like SBET and BMNR experience a big pump when they ride on the Ethereum hype?" "Is there a relationship between the opportunity of RWA and Ethereum?" "Why do you all firmly believe in ETH regardless of short-term price fluctuations?" For these different questions, we have provided fragmented answers. This article will systematically organize and summarize the answers from a foundational logic and a more long-term perspective, while also serving as a supplement to previous reports.
"The rise of ETH is not driven by the purchases or promotions of one or two institutions, but rather it is a collective choice of mainstream institutions during a transformative layout, and the critical point of trend change is about to arrive."
1. Starting from data
Stablecoins have achieved a growth rate that surpasses market expectations, with a total market value reaching a historical high of 258.3 billion dollars.

Since the U.S. Securities and Exchange Commission (SEC) approved the Bitcoin Spot ETF on January 10, 2024, and trading began on January 11, 2024, various ETF applications have emerged, including both Mainstream Tokens and other Crypto Assets. This article reviews which Crypto Assets ETFs have been applied for this year, what are the chances of approval, and how it may affect the crypto market.
1. Which crypto assets ETFs have been submitted for application this year?
SOL, 99%
On June 28, REX Shares announced on platform X that the Solana staking ETF "REX-OspreySOL+StakingETF" is coming soon. It is reported that this ETF aims to track the performance of Solana while generating returns through on-chain staking. It is said to be the first staking crypto assets ETF in the United States. In addition, Peng

The Federal Housing Finance Agency of the United States has instructed Fannie Mae and Freddie Mac to consider regulated exchange Crypto Assets as mortgage assets, which may impact the mortgage market. If the new rules are implemented, 5% of mortgage applicants will include encryption assets, allowing approximately 305,000 people to obtain loans, with a distribution scale reaching $100 billion, significantly enhancing market potential. This regulatory development indicates that Crypto Assets are reshaping the TradFi system.

Hong Kong has released the "Hong Kong Digital Asset Development Policy Declaration 2.0", proposing the "LEAP" framework to provide new business opportunities for brokerages. Among them, brokerages can enter virtual asset trading with low barriers, develop tokenized assets, enhance the density of financial products, and improve operating conditions. Taking advantage of this opportunity, brokerages may drive financial innovation while facing compliance and market competition challenges.

If the golden printing press of this era is still hidden deep within some high-rise building, then you might not be keeping up with the pace.
The real printing machine no longer relies on the ink and steel stamps of banks, but hides behind a string of codes on the blockchain - for example, Ethereum.
According to data from Token Terminal, the Ethereum ecosystem has generated approximately $7.3 billion in revenue over the past 365 days. Yes, you read that right, it's not trading volume, it's not valuation, but real revenue. More than the fiscal revenue of many countries.
Who is making money?
Let's break down this $7.3 billion "big cake" and see who made it:
Tether and Circle: This pair of stablecoin twins is the engine of the entire on-chain payment system. Behind every USDT and USDC are tangible transaction fees and exchange profits.
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