Stablecoin Supply: The supply of stablecoins on Ethereum has continued to grow, surpassing $100 billion by the end of 2024, with traditional financial institutions like PayPal and J.P. Morgan participating. Total Value Locked (TVL): Ethereum’s TVL reached a new high of $88 billion in 2025, maintaining its leading position despite competition from other chains. Active Users: Ethereum L1 daily active addresses hit a historic high of 580,000. When combined with L2s (e.g., Base, Arbitrum), daily ...

Stablecoin Supply: The supply of stablecoins on Ethereum has continued to grow, surpassing $100 billion by the end of 2024, with traditional financial institutions like PayPal and J.P. Morgan participating. Total Value Locked (TVL): Ethereum’s TVL reached a new high of $88 billion in 2025, maintaining its leading position despite competition from other chains. Active Users: Ethereum L1 daily active addresses hit a historic high of 580,000. When combined with L2s (e.g., Base, Arbitrum), daily ...

1. The 30-Million-Dollar Tweet On 8 Oct Jia Yueting posted a rendered FF car stamped with the letters “BNB” and the caption “Drive a Binance-mobile, live a Binance-life.” A freshly-minted meme coin called “Binance Car” instantly screamed to a $30 m market-cap. Hours later Jia clarified: “I have never issued any token.” The message was deleted, the pump evaporated, but the 42-year-old showman had proved he can still move markets with a single JPEG. --- 2. From “Eco-Synergy” to “EAI + Crypto Fl...

1. The 30-Million-Dollar Tweet On 8 Oct Jia Yueting posted a rendered FF car stamped with the letters “BNB” and the caption “Drive a Binance-mobile, live a Binance-life.” A freshly-minted meme coin called “Binance Car” instantly screamed to a $30 m market-cap. Hours later Jia clarified: “I have never issued any token.” The message was deleted, the pump evaporated, but the 42-year-old showman had proved he can still move markets with a single JPEG. --- 2. From “Eco-Synergy” to “EAI + Crypto Fl...

The Scoreboard Rewrite At 08:00 UTC this morning PayAI crossed a $50 M fully-diluted valuation—up 1 000 % since Wednesday—while PING drifted back to $34 M. The flip took four trading days and one loud message: x402 is graduating from mascot tokens to cash-flow pipes.PING: The Meme That Opened the Door PING’s 20× sprint two weeks ago was the perfect ignition. First token ever deployed through x402 on Base, zero utility, pure reflexivity—an on-chain fireworks show that lured CT’s gaze toward a ...

The Scoreboard Rewrite At 08:00 UTC this morning PayAI crossed a $50 M fully-diluted valuation—up 1 000 % since Wednesday—while PING drifted back to $34 M. The flip took four trading days and one loud message: x402 is graduating from mascot tokens to cash-flow pipes.PING: The Meme That Opened the Door PING’s 20× sprint two weeks ago was the perfect ignition. First token ever deployed through x402 on Base, zero utility, pure reflexivity—an on-chain fireworks show that lured CT’s gaze toward a ...

A 25-bp Gift from the Fed The FOMC just trimmed rates by 25 basis points—historic only in the sense that it may turbo-charge a bull run that is already on borrowed time. With the 2024 halving now 17 months behind us, history says a cyclical top is due around December 2025. Chair Powell’s cut—and the hint of two more before year-end—gives the ≈ US-$ 7.4 trn parked in money-market funds a powerful incentive to reach for yield. Spot-Bitcoin ETFs, BTC-treasury companies and zero-friction broker a...

A 25-bp Gift from the Fed The FOMC just trimmed rates by 25 basis points—historic only in the sense that it may turbo-charge a bull run that is already on borrowed time. With the 2024 halving now 17 months behind us, history says a cyclical top is due around December 2025. Chair Powell’s cut—and the hint of two more before year-end—gives the ≈ US-$ 7.4 trn parked in money-market funds a powerful incentive to reach for yield. Spot-Bitcoin ETFs, BTC-treasury companies and zero-friction broker a...

Collection European crypto asset management firm CoinShares merged with special purpose acquisition company Vine Hill Capital Investment Corp on September 8, achieving a backdoor listing on Nasdaq. This makes it the first European Web3 company to list in the U.S., with a valuation of $1.2 billion, representing a 37% premium over its European market value. Company Background Formerly known as Global Advisors, established in 1998, the company pivoted to the digital asset space in 2014 and was r...

Collection European crypto asset management firm CoinShares merged with special purpose acquisition company Vine Hill Capital Investment Corp on September 8, achieving a backdoor listing on Nasdaq. This makes it the first European Web3 company to list in the U.S., with a valuation of $1.2 billion, representing a 37% premium over its European market value. Company Background Formerly known as Global Advisors, established in 1998, the company pivoted to the digital asset space in 2014 and was r...

Key Take-away Every macro cycle repeats the same three-act play: euphoric top, violent purge, uneven recovery. Draw-down is not a bug; it is the moment the thermostat resets.2021-2025 in One GlanceQ4 2021: Liquidity orgy. BTC > $69 k, NASDAQ > 16 k, S&P 500 > 4.8 k; A-share hot spots still bubbling.2022-23: Fastest Fed hike cycle since Volcker. BTC ‑77 %, ETH ‑82 %, S&P ‑27 %, NASDAQ ‑38 %, CSI 300 ‑30 %.2023-25: Inflation rolls over, AI narrative arrives, rate-cut bets appear. U.S. equities ...

Key Take-away Every macro cycle repeats the same three-act play: euphoric top, violent purge, uneven recovery. Draw-down is not a bug; it is the moment the thermostat resets.2021-2025 in One GlanceQ4 2021: Liquidity orgy. BTC > $69 k, NASDAQ > 16 k, S&P 500 > 4.8 k; A-share hot spots still bubbling.2022-23: Fastest Fed hike cycle since Volcker. BTC ‑77 %, ETH ‑82 %, S&P ‑27 %, NASDAQ ‑38 %, CSI 300 ‑30 %.2023-25: Inflation rolls over, AI narrative arrives, rate-cut bets appear. U.S. equities ...

In 2021, Sam Bankman-Fried (SBF), founder of the cryptocurrency exchange FTX, invested $500 million in AI company Anthropic through his hedge fund Alameda Research, acquiring approximately 8% equity. At that time, the AI boom had not yet begun, and this investment was regarded as a highly forward-looking high-stakes bet. However, in 2022, SBF’s empire collapsed due to the FTX crisis, and his assets were liquidated. FTX eventually sold its Anthropic stake in two installments, reclaiming approx...

In 2021, Sam Bankman-Fried (SBF), founder of the cryptocurrency exchange FTX, invested $500 million in AI company Anthropic through his hedge fund Alameda Research, acquiring approximately 8% equity. At that time, the AI boom had not yet begun, and this investment was regarded as a highly forward-looking high-stakes bet. However, in 2022, SBF’s empire collapsed due to the FTX crisis, and his assets were liquidated. FTX eventually sold its Anthropic stake in two installments, reclaiming approx...

According to a Bitcoin on-chain analysis report released by VanEck, the recent decline in Bitcoin's price is primarily driven by selling pressure from mid-term holders rather than long-term holders. Here are the key takeaways from the report: Long-Term Whales Continue Holding: Investors holding Bitcoin for over five years have continued to accumulate, with a net increase of 278,000 BTC over the past two years, demonstrating strong conviction. Selling Pressure from Mid-Term Holders: Over the p...

According to a Bitcoin on-chain analysis report released by VanEck, the recent decline in Bitcoin's price is primarily driven by selling pressure from mid-term holders rather than long-term holders. Here are the key takeaways from the report: Long-Term Whales Continue Holding: Investors holding Bitcoin for over five years have continued to accumulate, with a net increase of 278,000 BTC over the past two years, demonstrating strong conviction. Selling Pressure from Mid-Term Holders: Over the p...

Event Background Recent sharp price wicks for XPL on Hyperliquid and ETH on Lighter triggered mass liquidations, allowing some large players to profit tens of millions through market manipulation. These incidents highlight the critical impact of liquidation mechanisms and market depth on user position safety in perpetual contract trading. Liquidation Mechanisms ExplainedHyperliquid’s Market-Based Liquidation: When user equity falls below the Maintenance Margin (MM), the system injects liquida...

Event Background Recent sharp price wicks for XPL on Hyperliquid and ETH on Lighter triggered mass liquidations, allowing some large players to profit tens of millions through market manipulation. These incidents highlight the critical impact of liquidation mechanisms and market depth on user position safety in perpetual contract trading. Liquidation Mechanisms ExplainedHyperliquid’s Market-Based Liquidation: When user equity falls below the Maintenance Margin (MM), the system injects liquida...

The recent vote on the USDH token on Hyperliquid has drawn significant attention, reflecting a broader trend where platforms are increasingly recognizing the economic value of stablecoins and seeking better partnership terms.Core InsightsClosed vs. Open Ecosystems: Stablecoin issuers find it easier to guide users within closed systems (e.g., custodial platforms or wallets), while challenging dominant stablecoins like USDC and USDT in open ecosystems remains difficult.Two Tiers of Success:On-p...

The recent vote on the USDH token on Hyperliquid has drawn significant attention, reflecting a broader trend where platforms are increasingly recognizing the economic value of stablecoins and seeking better partnership terms.Core InsightsClosed vs. Open Ecosystems: Stablecoin issuers find it easier to guide users within closed systems (e.g., custodial platforms or wallets), while challenging dominant stablecoins like USDC and USDT in open ecosystems remains difficult.Two Tiers of Success:On-p...