Beyond Ethereum: Exploring the Potential of Emerging Blockchains in Stablecoin Adoption
Background
The stablecoin market is growing rapidly and has become an important force in the digital economy, even competing with traditional financial networks. According to research from a certain trading platform, the total trading volume of stablecoins exceeded $10.8 trillion in 2023. After excluding "unnatural" trades (such as those driven by bots or automated trading), the actual trading volume is about $2.3 trillion. This adjusted data reflects an organic annual growth rate of 17% for stablecoins, highlighting their increasingly important role in retail and institutional finance. The following chart provides a visual insight into the current landscape and growth trajectory of stablecoins within the major blockchain ecosystems.
The chart shows the overall market value trend of the top 20 blockchains from 2020 to 2025. Ethereum stands out particularly, with its market value exceeding $100 billion at its peak, dominating the entire

Bitcoin Financialization: From Speculative Asset to the Cornerstone of the Global Financial System
As the asset size of Bitcoin spot ETFs surpasses 50 billion USD, and companies begin to issue Bitcoin-linked convertible bonds, institutional investors no longer question the legitimacy of Bitcoin. The current focus has shifted to a deeper question: how will Bitcoin integrate into the global financial system? The answer is becoming increasingly clear: Bitcoin is undergoing a process of financialization.
Bitcoin is transforming into programmable collateral and capital strategy optimization tools. Institutions that are the first to recognize this shift are expected to lead the direction of financial development in the next decade.
Although the volatility of Bitcoin is often seen as a disadvantage in the traditional financial sector, some companies have recently issued zero-coupon convertible bonds that demonstrate a different approach. These transactions cleverly transform volatility into upside potential: the greater the volatility of the asset, the higher the value of the embedded conversion option in the bond. On the premise of ensuring solvency,

Web3 Innovation Feast: Hackathon Showcases New Directions in Blockchain Technology
On December 22, 2024, a hackathon event themed "Applications within the Web3 Regulatory Framework" successfully concluded. This event attracted outstanding developers from around the world to explore the future development direction of Blockchain.
During the three-day event, dozens of teams showcased their creative and cutting-edge solutions, fully demonstrating the technical strength and market insight of global developers. The competing projects mainly focused on five core areas: Decentralized Finance (DeFi), Real-World Asset Tokenization (RWA), Initial NFT Offerings (INO), Payments, and Cultural Heritage.

Encryption economy is not just a technological revolution; investment is an essential course.
Practitioners and enthusiasts in the cryptocurrency field often struggle to adapt to its highly volatile nature. The cyclical nature of this market is quite apparent, where ordinary investors may achieve returns of tenfold or even a hundredfold during a bull market, but can also suffer significant losses during a bear market. Therefore, anyone entering this field needs to learn the basics of investment knowledge.
The main reason for the current bear market is the capital tightening caused by the Federal Reserve's interest rate hikes. The yields of mainstream lending protocols have dropped below 2%, while the yield on U.S. Treasury bonds has exceeded 3%. This has prompted institutional investors and stablecoin projects to shift their funds to traditional financial markets to purchase government bonds.
Since the 1980s, the Federal Reserve has experienced six interest rate hike cycles, each lasting 1-3 years, with an average of 10 hikes. The slower the rate of increase, the worse the effect, making inflation harder to control. The sixth rate hike from 2015 to 2018 is a

The wisdom of protecting wealth in turbulent times
Throughout history, war and turmoil have always cast a shadow over human society. How to protect one's wealth in such an environment is a question worth pondering. Here are some historical experiences and insights:
The importance of geographical location
Choosing the correct geographical location is crucial. There have been many historical cases showing that incorrect choices can lead to property loss and even endanger lives.
- During World War II, a Jewish family fled to France and Portugal. The former unfortunately ended up being sent to concentration camps, while the latter survived.
- In 1943, some Nazis began to transfer funds to South America instead of the Eurasian continent or the United States, which was a wise move at the time.
- When the Soviet Union collapsed in 1991, many ordinary people lost everything overnight as all their assets were concentrated in their home country.
Insight into changes in the situation
In difficult situations, one should be good at observing details and making independent decisions.

Trump's team issues meme coin, causing market turbulence, Ethereum faces severe tests.
Trump's team's move to issue meme coins on Solana has triggered a fierce market upheaval. This decision not only boosted the valuation of the Solana ecosystem but also led to a significant transfer of institutional funds from the Ethereum ecosystem, putting Ethereum under the most severe market test since its inception.
This shift in market dynamics has not only shaken the market confidence in Ethereum within the public chain domain but also highlighted that the Layer 1 track is entering a critical turning point: under the dual challenges of scalability and user experience, the Ethereum ecosystem urgently needs breakthrough technological innovations. A new solution based on the Based Rollup architecture opens up new possibilities for Ethereum's expansion.
This innovative Ethereum Layer 2 solution is dedicated to addressing the constraints of Ethereum issuance.

Bitcoin Halving One Year Later: The Market Shows a New Trend
One year has passed since the last Bitcoin Halving, and this cycle shows a significantly different trend compared to the past. Unlike the explosive surge seen after previous halvings, this time the Bitcoin increase is relatively moderate, rising only 31%, while the increase during the same period of the previous cycle was as high as 436%.
At the same time, long-term holder metrics such as the MVRV ratio show a significant drop in unrealized profits, indicating that the market is maturing and upward potential is being compressed. These changes suggest that Bitcoin may be entering a new phase characterized by the absence of parabolic peaks and instead more gradual growth driven by institutions.
The uniqueness of this cycle
This round of Bitcoin cycle development has significant differences from previous ones, which may indicate that the market's reaction to the Halving event is changing.
Early cycles (, especially from 2012 to 2016, and from 2016 to 2020 ), Bitcoin

EigenLayer's re-staking technology: innovation and risk coexist
The re-staking technology proposed by EigenLayer allows decentralized services to reuse Ethereum's staking capital pool, thereby enhancing the trust mechanism. When Ethereum validators redirect withdrawal certificates to EigenLayer contracts, decentralized services can set up reward and punishment mechanisms to attract low-cost validation participation, improving the capital utilization of validators and enhancing overall network security.
EigenLayer introduces new micro and macro security challenges in the "consensus sale market." The main participants in the market include Ethereum validators (Operator), demand decentralized PoS trust service project (AVS), and the EigenLayer platform itself. These three form an interactive structure within the ecosystem. Each part may face security threats, affecting the entire...

The Base chain ecosystem is booming, and the Onchain Summer event has fully launched.
The Base chain ecosystem is thriving, with multiple activities unfolding simultaneously, bringing rich opportunities to developers and users.
Official cross-chain bridge fully open
The official cross-chain bridge of the Base chain is now fully open, supporting two-way asset transfers. This initiative addresses the issue of early users being unable to withdraw their assets, injecting new momentum into ecological development.

Founded by Peter Thiel, Founders Fund has rapidly risen since 2005, managing billions of dollars in assets and investing in well-known companies such as SpaceX and Facebook, yielding substantial returns. Its unique "founder-friendly" philosophy and investment approach focusing on non-mainstream sectors have established its leading position in the venture capital industry.

Ethereum light client Helios: Realizing trustless blockchain access
On November 8th, a new Ethereum light client Helios was officially launched. This client is developed based on the Rust language and aims to provide completely trustless access to Ethereum.
One of the main purposes of using Blockchain is to achieve trustlessness. Through Blockchain, we can have control over our own wealth and data. In most cases, blockchains like Ethereum have indeed fulfilled this promise: our assets truly belong to us.
However, in pursuit of convenience, we have also made some compromises. One of them is the use of centralized RPC( remote calls to the) server. Users typically access Ethereum through centralized providers. These companies run high-performance nodes on cloud servers, helping everyone easily obtain on-chain data. When wallets query token balances or check transaction statuses, these centralized providers are almost always involved.

Analysis of the Reentrancy Attack Incident on OrionProtocol
On the afternoon of February 2, 2023, a certain DEX platform suffered a reentrancy attack due to a contract vulnerability on Ethereum and Binance Smart Chain, resulting in a total loss of approximately $2.9 million in crypto assets, including 2,844,766 USDT on Ethereum and 191,606 BUSD on Binance Smart Chain.
Overview of the Attack Process
The attacker first deployed a custom token contract and performed related transfer and authorization operations. Subsequently, the attacker borrowed funds through the swap function of a certain DEX and called the target platform's swapThroughOrionPool method for token exchange. The exchange path included the address of the token contract created by the attacker, which allowed the attacker to execute callback operations during the transaction.
During the exchange process, the attacker exploits the token contract they created.

Market Overview
Main Market Trends
- The market sentiment index has dropped from 91% to 53%, still in the greed zone, but BTC maintains high volatility while altcoins are generally under pressure, indicating an intensification of market differentiation.
- The market capitalization of USDT and USDC has both increased (by +2.91% and +3.23%, respectively), while the total locked value in DeFi continues to rise to $54.1 billion, indicating that the market is still attracting new funds.
- The DeFi sector leads the market with a weekly return rate of 16.47%, and a certain DEX's trading volume has reached a new high for 2024 (63 billion USD), demonstrating strong development momentum.
- The meme coin market is back in focus, showing active performance amid market fluctuations, bringing new liquidity and user growth points to the market.
- DEX projects are receiving the highest attention, while sectors like AI and GameFi are showing weak performance, reflecting that market hotspots are shifting towards fundamental aspects.

The Shadows of the Crypto Assets World: The Rampant Rug Pull Eyewash and Warnings
In the Crypto Assets market, some investors have reaped huge returns by selecting the right projects, but many others have suffered heavy losses due to fraud. Recently, the price of the Aura (AURA) token skyrocketed by 800% in just a few hours, soaring from $0.001 to $0.008, with trading volume surging over 115,000% compared to the previous day. However, a seasoned Crypto Assets analysis expert warned that this could be a carefully orchestrated eyewash. This crime method, known as "Rug Pull," is spreading on an industrial scale in the Crypto Assets field.
The astonishing scale of Rug Pull
Through the analysis of smart contracts on major public chains, the data shows that over 300,000 tokens have experienced varying degrees of Rug Pull, with hundreds of "trap coins" appearing on average every day.

Meme coin market 2024 annual review: Golden Dog project analysis and investor profit situation
In 2024, Meme coin has become a major focus in the cryptocurrency market. Although mainstream tokens have performed mediocrely, there are still many opportunities for wealth in the Meme coin sector. Let's review the Meme coin market over the past year and analyze the number of "Golden Dog" projects that have emerged and the profits made by investors.
Golden Dog Project Distribution
The Meme coin "Golden Dog" project primarily focuses on the following public chains:
1. Solana: Its low cost, high performance, and comprehensive Meme coin tools make it the best incubation place.
2. Base: Thanks to the support of a well-known trading platform, the number of golden dogs has significantly increased.
3. BNB Chain: As a well-established public chain, it has generated quite a few golden dog projects with the support of a major trading platform.
4.

A New Era of Virtual Asset Regulation in Hong Kong: Opportunities and Challenges Coexist
The virtual asset industry in Hong Kong is facing an important turning point. Starting from June 1, institutions that have not obtained a "Virtual Asset Service Provider" license from the government will be prohibited from operating in Hong Kong. Previously, several globally renowned cryptocurrency exchanges announced the withdrawal of their applications for the Hong Kong Virtual Asset Trading Platform (VASP) license, triggering a strong market reaction. Meanwhile, a certain exchange has obtained the AMLO license issued by the Hong Kong Securities and Futures Commission, becoming the first fully licensed virtual asset exchange in Hong Kong.
In light of this situation, industry insiders have stated that the Hong Kong virtual asset sector is currently in a critical transformation period. Among the 28 institutions applying for licenses, only 2 have officially been licensed, while 11 have obtained qualifications pending issuance of licenses. This outcome reflects the regulatory authorities' preference for local enterprises and has also sparked some controversy.
However, this regulatory trend is also seen as Hong Kong clarifying its development direction. Regulators have moved from "doing or not doing

Solana on-chain RWA ecosystem overview: From stocks to real estate, tokenization assets cover seven core areas.
Real-world assets ( RWA ) refer to physical or traditional financial assets such as stocks, real estate, commodities, or credit instruments that are tokenized and placed on-chain. These assets, whether physical or non-physical, derive their value from the practicality, scarcity, or demand of the real world, and are typically subject to existing financial regulations.
Tokenization refers to the process of representing these assets in the form of digital tokens on the blockchain. By encoding ownership as tokens, assets such as U.S. Treasury bonds, private equity, or real estate can be issued, tracked, and transferred more efficiently. This on-chain transformation is becoming a foundational pillar of institutional blockchain applications, enabling round-the-clock settlement, enhancing transparency, and supporting fractional ownership of assets, thereby expanding access to global capital markets.
Today, the field of tokenization of assets is based on the currency market.