As the value of Bitcoin returns to 100,000, the director has recently communicated with VCs outside the circle about the current developments in the Crypto market:

1. Bitcoin has established a basic route of accumulation by enterprises/institutions and national reserves.

2. Stablecoins have confirmed a market pattern of local payment/settlement/cross-border trade and vertical integration of wealth management, along with traditional fintech's entry and regional grassroots coverage. Stablecoins/underlying chains/wealth management protocols will continue to benefit.

3. Ethereum, altcoins, and other directions have not gained new users, gradually becoming casino-like and engaging in stock game strategies, with hopes pinned on AI.