#Solana期货交易量创新高 The actions of China's public blockchain have caused a stir in the market. Some believe that "once the gunfire of China's public blockchain sounds, even Wall Street's computing power will tremble — but your holdings might meet the King of Hell first." Let's break down the underlying issues.

On the policy level, central state-owned enterprises need to personally get involved in building the blockchain, investing $54.5 billion. On the surface, this is said to prevent the U.S. from choking off technology, but in reality, it aims to push foreign public chains like Ethereum (ETH) and Solana (SOL) out of the Chinese market. It’s like the foreign products were dominating before, now the national team wants to do it themselves and squeeze out foreign competitors.

In the short term, this poses a life-and-death test for the market. The bearish outlook is clear; in the future, when Chinese users issue stablecoins or engage in decentralized finance (DeFi), they will most likely use state-owned chains. Projects like Ethereum and Solana, which rely on Chinese users, may suffer a bleed in their domestic ecosystem. This is similar to last year's licensing in Hong Kong, where a certain exchange's platform token surged by 200%; this time, those benefiting are the chains collaborating with state-owned enterprises.