Weekly Review of the Web3 Industry

Macroeconomic Policy

The Hong Kong SAR government has released the "Hong Kong Digital Asset Development Policy Declaration 2.0," focusing on practical applications and ecological development, reaffirming its commitment to making Hong Kong a global innovation center in the digital asset sector. This Policy 2.0 version has been elaborately deployed based on the first policy declaration from October 2022, with over 40 institutions having made early preparations.

Texas has passed two bills to initiate a state-level Bitcoin accumulation strategy. On one hand, public funds will be used to purchase Bitcoin to establish an independent reserve fund; on the other hand, law enforcement agencies are authorized to confiscate relevant cryptocurrency assets and lock them up for the long term. This dual-track strategy aims to strengthen the scarcity of Bitcoin, attract top-tier crypto industries, and set a model for state-level digital asset regulation.

Industry Trends

Payment giant Mastercard has announced that it will offer on-chain cryptocurrency purchase services, further promoting the mainstream adoption of crypto payments. In recent years, Mastercard has continuously deepened its crypto strategy, moving from experimental exploration to actual implementation, becoming a key component of its global financial landscape.

The geopolitical situation in the Middle East has undergone a major shift, with Trump suddenly announcing a ceasefire between Israel and Palestine, resulting in a significant rebound in Bitcoin. This event once again highlights the sensitivity of the crypto market to geopolitical factors.

Tim Draper, a well-known venture capitalist in Silicon Valley and an early and steadfast believer in Bitcoin, has a far-reaching impact with his investment vision. His invested projects include innovative companies such as Skype, Baidu, Hotmail, and Tesla, driving significant advancements in today's market.

The Integration of AI and Web3

Regardless of the path chosen by the project, it ultimately needs to enter the collaborative logic of AI, using AI to enhance competitiveness and efficiency. InfoFi( information financialization), as an emerging concept, is based on blockchain, token incentives, and AI empowerment as its technological foundation, aiming to "reshape attention value" and represents a shift in underlying paradigms.

Apple's AI strategy is under scrutiny, with critics arguing that its promises are overly ambitious but not sufficiently delivered. The industry is watching whether Apple can catch up in the AI field with its slow-paced approach.

Investment Opportunities

Multiple early airdrop opportunities have emerged in the Solana ecosystem, which are worth paying attention to. Meanwhile, as the Fragmetric project is about to conclude, investors are starting to look for new investment directions.

Companies like Circle and MicroStrategy have sparked a wave of interest in cryptocurrency concept stocks, making some publicly traded companies in the U.S. a focal point for investors.

Base chain has made significant progress recently, including deep integration with Coinbase and a pilot project with JPMorgan. Some projects within this ecosystem may have investment value.

Several industry experts shared what they believe are the best cryptocurrency investment targets within the next 3 to 5 years, providing a reference for investors.

Market Analysis

The enthusiasm for chasing new projects in the current cryptocurrency market has dropped to its lowest point since 2018, with most projects remaining in a stage of incremental optimization. Some tools and assessment methods can help investors uncover potential projects from on-chain data and user perceptions.

Understanding the psychological mechanisms behind market risks is crucial for identifying potential market bottoms. Investors need to learn to recognize key signals to seize opportunities for market crashes and rebounds.

Industry Controversies

The Celestia project has recently faced multiple doubts, including controversies over executive cashing out,利益输送, and public opinion manipulation. Although its co-founders deny these accusations, both the activity level of the Celestia ecosystem and the performance of its tokens have shown a significant decline, and the modular narrative is facing severe challenges.

Jump Crypto has transformed from a giant in crypto quant trading to an infrastructure builder, attempting to reshape its role in the industry. The company has also rarely disclosed its progress in lobbying for U.S. crypto policy.

The "discount token OTC" scam has led to losses of about 50 million dollars for venture capitalists and large holders within a few months. Despite early warnings, trust, greed, and social "proof" became powerful weapons for the scammers.

The platform named Huiwang Payment has attracted high regulatory attention, as it involves over 55 billion USDT in on-chain circulation, which may be related to illegal cross-border payment and money laundering activities.

New Trends

The theory of Bitcoin's "four-year cycle" may have become outdated. The market is experiencing a new reality: a slow bull for Bitcoin, intense competition among MEME projects, technological development facing bottlenecks, and rapid shifts in hot topics.

U.S. government agencies are considering incorporating Bitcoin into the mortgage system, and the private market has already conducted a trial worth $65 million. This move could have a significant impact on the mainstream adoption of Bitcoin.

YZi Labs' investment philosophy emphasizes empathy and long-termism, dedicated to supporting entrepreneurial projects that are often overlooked but worthy of appreciation.

A DAO fund worth $23 million is suspected of being manipulated and transferred, with the Across team being accused of involvement in a "self-trading" scandal. This highlights the potential threats posed by insiders in the cryptocurrency space.

Important News

• Guotai Junan International has been approved to provide cryptocurrency and other virtual asset trading services.
• Moca Network, a subsidiary of Animoca Brands, plans to launch a Layer 1 public blockchain for digital identity.
• Huaxing Capital announced an investment of $100 million to enter the Web3.0 and cryptocurrency sector.
• The People's Bank of China and six other departments encourage the prudent promotion of digital renminbi in pilot areas.
• The CEO of a trading platform responded to the expansion of a certain token market, emphasizing that the token has no direct connection with the platform.
• Since June, the daily trading volume of US dollar stablecoins has surpassed BTC and ETH.
• Polymarket is about to complete nearly $200 million in financing, with a valuation exceeding $1 billion.