紫瞳

Eavesdropping and Wall Running

The pattern was set at $FST , then it dropped and became silly.

#中国加密新规 2025年中国加密货币政策呈现“严监管与局部探索并存”的态势，核心特点如下：

持续禁止私人加密货币交易与挖矿
中国维持对私人加密货币（如比特币）的全面禁令，严禁交易、挖矿及相关金融服务，重点打击洗钱、非法集资等行为，防范金融风险。

数字人民币（e-CNY）为核心发展路径
数字人民币试点规模扩大，日均交易量突破3000亿元，技术深化聚焦跨境支付与区块链应用，强化其在数字经济中的主权地位。

涉案加密货币处置机制探索
地方政府通过私营机构在境外变现查获的加密货币（如比特币），补充财政收入，但缺乏统一规则。政策讨论倾向于将加密资产纳入国家储备或设立主权基金，平衡监管与资产利用。

香港作为试验田的差异化监管
香港推行加密资产交易所牌照化及比特币ETF，为内地提供合规化参考，但内地政策短期内仍以风险防控为主，局部试点或逐步开放。

综上，中国政策以“可控创新”为主线，兼顾金融安全与技术主权，未来可能通过分类监管或香港试点逐步调整策略。

#BitDigital转型 Bitcoin mining revenue declines: In the first quarter of 2025, Bitcoin mining income decreased by 64% year-on-year, primarily affected by halving, rising electricity prices, and the depreciation of mining machines, while during the same period, Ethereum staking income grew by 72%.

Attractiveness of the Ethereum ecosystem: Ethereum staking offers stable annualized returns (around 3%) and has low energy consumption, aligning with sustainable development trends. Bit Digital has held over 100,000 ETH (worth about 300 million USD) and operates one of the largest institutional-grade staking facilities in the world.

Policies and market trends: The U.S. SEC has clarified that Ethereum staking is not a security, and the expectation for an Ethereum ETF has increased, leading to a diversification of institutional allocations.

After transformation, Bit Digital has completely shifted to a “light asset financialization” model by selling Bitcoin, spinning off its HPC business (WhiteFiber), and financing 172 million USD to increase its ETH holdings. CEO Sam Tabar believes that the programmability of Ethereum and the DeFi ecosystem will reshape the financial system. However, the challenge lies in the fierce competition in the Ethereum staking market (with Lido and Coinbase holding major shares), and the company's performance will be highly correlated with ETH prices.

#创作者任务台 Binance Square has launched a Web3 content incentive platform, where users can participate in multi-task activities by publishing compliant content such as original analyses and trading records. With zero-staked tokens, users can share in token rewards worth millions of dollars. Its core mechanism employs a dual-dimensional evaluation system of 'Quality × Spread', where reading completion rate, effective interaction rate, and social viral coefficient together determine the reward weight, effectively resisting machine-generated traffic. The platform supports free combination of task paths; for example, users can earn 70% of rewards solely by posting, or enhance earnings by adding spot trading (minimum 20) [1,4](@ref). Current activities cover projects such as WalletConnect and Caldera, with individual users potentially earning over $3000 monthly, but caution is advised regarding false activities and high leverage trading risks. As of July 2025, the total prize pool has exceeded $850,000, with fewer than 30,000 participants, and content creators are still in a bonus window period.

#中国投资者涌向印尼 Avoiding US Tariff Pressure: The US imposes a 19% tariff on Indonesian goods, significantly lower than the over 30% rate on Chinese goods, prompting Chinese companies to shift production capacity to Indonesia to maintain export competitiveness. The demand for industrial real estate has surged, with warehouse rents in Jakarta and other locations rising by 15%-25% year-on-year. Chinese companies prefer a 'fast-track plan,' seeking ready-to-use land and temporary facilities.

Market Potential and Demographic Dividend: Indonesia has a population of 270 million, with an average age of 30, creating a massive consumer market with high internet penetration (215 million users). The e-commerce scale reached $53.8 billion in 2023. Chinese companies are quickly capturing the market in sectors such as electric motorcycles, electronics, and textiles through localization strategies (such as halal certification and social marketing), with net profit margins reaching 20%-30%, far exceeding domestic levels.

Policy and Resource Attractiveness: The Indonesian government promotes downstream industries (such as nickel processing) and infrastructure projects (such as the Jakarta-Bandung high-speed rail), while reducing the corporate income tax to 22%. China has made significant investments in the nickel supply chain (Qingshan Group), new energy (CATL), and the digital economy (Huawei), with direct investments reaching $8.1 billion in 2024, remaining among the top three foreign investors in Indonesia for nine consecutive years.

Challenges include incomplete regulations, lagging infrastructure, and a weak domestic supply chain, but Chinese companies are gradually adapting through joint ventures and localized employment (such as J&T Express employing 12,000 Indonesian staff).

In the year #牛市季来临 2025, the cryptocurrency market has entered a structural bull market, with Bitcoin breaking the $120,000 barrier, Ethereum stabilizing at $3,800, and the total market capitalization of altcoins surpassing $1.5 trillion. Institutional funds are pouring in rapidly, injecting strong momentum into the market.

Core driving factors:

Halving effect: After the Bitcoin halving in 2024, supply will contract, and by 2025, the growth rate of circulation will decrease to 1.5%, with miners holding 78% of their coins, exacerbating supply-demand imbalances.

Institutional entry: Global inflows into Bitcoin ETFs exceed $50 billion, with asset management giants like BlackRock holding significant positions, and over 260 listed companies holding nearly 3.5 million Bitcoins.

Technology upgrades: The Lightning Network enables instantaneous payments, Taproot promotes derivative innovation, and Ethereum Layer-2 expansion enhances ecosystem efficiency.

Market differentiation: Leading projects in sectors such as AI, RWA (Real World Assets), and modular blockchain (like TAO, ONDO, TIA) perform strongly, while altcoins lacking practical applications may face zero valuation.

Risk warning: Changes in regulatory policies, tightening macro liquidity, and derivative leverage may trigger short-term volatility. Investors should pay attention to key indicators such as Bitcoin’s market capitalization ratio (below 50%) and stablecoin supply (exceeding $80 billion).

#以太坊创历史新高倒计时 以太坊（ETH）当前价格已突破4680美元，距离2021年的历史高点4871美元仅差约5%，创下近两年新高。这一涨势主要由机构资金推动，包括美国现货ETF单日净流入首次突破10亿美元（如贝莱德ETHA吸金6.4亿美元），以及企业财库大规模增持（如BitMine计划筹资200亿美元收购ETH）。

技术面显示，ETH已突破4600美元关键阻力位，短期若维持买盘和ETF资金流入，可能冲击历史高点；但快速拉升后或面临技术性调整压力。渣打银行最新预测将2025年底目标价上调至7500美元，而Fundstrat甚至看涨至15000美元，理由是以太坊在DeFi、稳定币和Layer2生态中的核心地位。

风险点包括监管政策变化及宏观流动性收紧，但长期来看，质押经济（年化4-6%收益）和通缩机制（30% ETH被质押）仍支撑其价值重估逻辑。

Opening transaction rush, most of it is accepting the project party's盘

#Solana期货交易量创新高 Solana (SOL) futures trading volume has recently reached a two-year high, reflecting a significant increase in market bullish sentiment. As of June 2025, Solana futures open interest (OI) has soared to its peak since 2021, mainly driven by the following factors:

ETF Expectations: Market speculation regarding the approval of a Solana spot ETF has intensified, drawing parallels to the approval paths of Bitcoin and Ethereum ETFs, with institutional funds accelerating their positioning, thereby boosting derivatives trading activity.

Technical Upgrades and Ecosystem Expansion: The performance of the Solana network continues to optimize, transforming from a "downtime chain" to a "performance monster," with explosive growth in DeFi, NFT, and AI application ecosystems attracting high-frequency trading demand.

Institutional and Retail Resonance: Binance futures data shows that 78% of open positions are long, with a long/short ratio of 3.72, indicating strong bullish sentiment among leveraged traders; meanwhile, monthly trading volume on DEXs has surpassed $1.4 trillion, with institutions accelerating their entry through tokenized asset scenarios.

Risk Warning: High open interest may exacerbate price volatility, and if ETF expectations fall short or the macro environment deteriorates, the risk of short-term corrections is significant.

#创作者任务台 Binance Creator Task Platform is an innovative incentive platform launched by Binance Square, aimed at lowering user participation thresholds and enhancing ecosystem activity through a 'content mining' model. Its core features include:

Zero-cost participation: Users do not need to stake tokens or pay Gas fees; they only need to publish original content (such as project analysis, trading strategies) or complete small trading tasks (like $20 spot trading) to share in the prize pool, which recently reached $150,000 in the BounceBit event.

Fair algorithm design: A 'quality × dissemination' dual assessment is used, prioritizing rewards for high completion rates and effective interactions with quality content, suppressing machine-generated traffic. Average monthly earnings for ordinary creators can exceed $3,000.

Multi-task combination: Supports free combination of creation and trading tasks; for instance, in-depth article authors can receive 70% reward weight, while traders can increase earnings by combining strategy posts with order operations.

Instant monetization channel: Rewards are distributed in the form of token vouchers (such as WCT, BB), which can be directly monetized on the Binance exchange, forming a creation-exposure-earnings closed loop.

This model promotes the popularization of the Web3 creator economy by lowering technical thresholds and capital requirements, but users should be cautious of fraudulent activities and trading risks.

Technical Advantages of $CFX : Conflux adopts a tree graph structure and a hybrid consensus mechanism, supporting high throughput (such as parallel transaction processing), which is technically superior to traditional blockchains, attracting a developer ecosystem.

Market Dynamics: In July 2025, due to news of "Leading Pharmaceutical intending to acquire Conflux equity," CFX briefly rose over 10%, indicating market sensitivity to cooperation and capital movements.

Long-term Forecast: Some analysts believe that the price range for CFX in 2025 will be between $0.45 and $0.70, but it is important to note the high volatility and regulatory risks of cryptocurrencies.

Trading Liquidity: Major exchanges such as Binance and OKEx provide high liquidity trading pairs, supporting price stability.

In summary, CFX is driven by event-related fluctuations in the short term, while its long-term value depends on technological implementation and ecosystem expansion; investors need to pay attention to network adoption rates and the macro environment.

#CreatorPad is a creator incentive platform launched by Binance, aimed at encouraging users to participate in content creation and earn token rewards through a task mechanism. After completing identity verification, users can improve their ranking on the 'Cognition Ranking List' by publishing original content (such as project analysis, tutorials, etc.). High-quality content can receive airdrop rewards, such as the BounceBit (BB) token voucher event launched in July 2025, with a total reward of up to $150,000 worth of tokens. The platform uses AI assistance to lower the threshold for content creation (such as recommending the use of multiple tools to reduce content duplication), while also requiring users to conduct small transactions (such as a $20 spot trade) to verify participation authenticity. Its core goal is to attract more users to participate in the Binance ecosystem through content ecological incentives while providing exposure channels for project parties, forming a two-way growth cycle.

Successful encryption projects in #加密项目 typically possess the following core elements:

Technical Innovation: Breakthrough technology is the foundation, such as Bitcoin's PoW consensus and Ethereum's smart contracts, which solve industry pain points (such as transaction speed, scalability) and create a differentiated advantage.

Economic Model: Token design needs to balance incentives and scarcity, such as Bitcoin's deflationary mechanism and Ethereum's Gas fee burning, to support long-term value.

Community and Governance: Decentralized governance (such as Ethereum's EIP proposals) and an active developer ecosystem can enhance project resilience and avoid centralized risks.

Application Ecosystem: Rich application scenarios (such as DeFi, NFT) attract users and capital, forming network effects. Ethereum and Solana have both benefited from this.

Compliance Adaptation: Defining a clear regulatory strategy (such as avoiding security attributes) and geographic layout (choosing policy-friendly areas) can reduce legal risks.

In addition, market narrative (such as Bitcoin's "digital gold" positioning) and timing are also crucial.

Airdrops are still better, the profits are about the same

#XXX The community meme tokens (such as XXX) that became popular on the Solana chain in 2025 have the following characteristics:

Technology-driven: Relying on Solana's high throughput (65,000 TPS) and ultra-low transaction costs (about $0.001 per transaction), it is suitable for high-frequency trading and community airdrop activities, promoting the rapid spread of tokens.

Community culture explosion: With humorous themes (such as Fartcoin's "fart" interaction) or animal IP (such as BONK, SAMO) as the core, combined with NFT and DeFi gameplay, a strong social communication effect is formed, and the market value of some tokens exceeds $1 billion.

Capital and retail investors resonate: Whales frequently enter the market (such as a trader betting $5.86 million on WIF, POPCAT, etc. and making a profit of $658,000), while low thresholds attract retail investors to participate and push up liquidity.

Risk and volatility: Short-term gains are amazing (such as POPCAT once rose 6000%), but the callback is drastic (some tokens fell by more than 60%), relying on market sentiment rather than actual use cases.

Overall, Solana Meme Coin will become the focus of the crypto market in 2025 with its dual engines of technology and culture, but we need to be wary of bubble risks.

#RWA热潮 Explosion Causes

The RWA (Real World Asset Tokenization) market is expected to experience explosive growth in 2025, with a total on-chain market value of $25.5 billion, an increase of 410% compared to 2022. The core drivers include:

Institutional Entry: Traditional financial institutions like BlackRock are investing in tokenized government bonds, real estate, and other assets, providing compliant yield products; Hong Kong's policy support (such as the RWA sandbox and tokenized green bonds) accelerates ecosystem implementation.

Liquidity Demand: Tokenizing high-value assets (such as real estate and commodities) reduces investment thresholds and enhances trading efficiency. For example, the trading volume of a single property in the U.S. increased threefold after tokenization.

Core Tracks

Private Credit ($14.9 billion), U.S. Treasury Bonds ($7.54 billion), and Commodity Tokenization ($1.51 billion) dominate the market, with Figure Technologies’ tokenization of home equity reaching $11 billion. Emerging fields like carbon credits and Renewable Energy Certificates (RECs) also enhance transparency through tokenization.

Challenges and Risks

Regulatory fragmentation (such as cross-border compliance conflicts), difficulties in confirming off-chain asset rights (such as disputes over property management rights), and technical bottlenecks (cross-chain interoperability) remain major obstacles.

Future Outlook

Boston Consulting Group predicts that the market size will reach $16 trillion by 2030, but compliance and trust mechanism issues need to be addressed.

$BNB

Price Performance and Historical High
BNB continues its strong upward trend today, reaching an all-time high of $801 during the trading session, with a 24-hour increase of 4%. Its market capitalization has surpassed $110 billion, ranking it fifth among cryptocurrencies. Previously, BNB had risen 14% for a consecutive week, demonstrating strong bullish momentum. As of the latest data, BNB is priced at $789.5, showing a slight pullback but still close to its peak. The technical support level is noted at $792; if maintained, it may continue to test the resistance level of $806.

Institutional Accumulation and Market Sentiment
Institutional investors have become the core driving force behind this round of increases. Nano Labs Ltd recently increased its holdings by 120,000 BNB (worth approximately $90 million) and plans to further expand its reserves, highlighting confidence in the long-term value of BNB. Additionally, developments in the BNB chain ecosystem (such as gas limit increases and strategic partnerships) have boosted market sentiment. The derivatives market is also active, with the number of open futures contracts increasing by 19% and derivative trading volume surging by 33%, indicating strong speculative demand.

Technical Aspects and Short-term Risks
The RSI indicator has reached 87.54, which is in the overbought range, necessitating caution regarding short-term pullback risks. The critical support level is at $740 (20-day moving average). If it falls below $792, it may retrace to the $786-$770 range. Overall, with institutional endorsement and ecological development driving BNB, it still possesses upward potential in the medium to long term; however, investors should pay attention to overbought signals and the impact of Bitcoin's market movement (currently BTC is trading sideways in the $116,000-$120,000 range) on altcoins.

Summary: BNB shows strong performance today, but attention should be paid to the risk of technical adjustments. It is recommended to make comprehensive decisions based on institutional dynamics and market trends.

On July 22, #NFT板块领涨 2025, the NFT sector led the crypto market with a 24-hour increase of 9.62%, driven by the following factors:

Blue-chip projects explode: Leading projects such as Pudgy Penguins (+20.98%) and Apecoin (+5.02%) performed strongly, with the floor price of CryptoPunks rising by 15.9% in a single day to 47.5 ETH. Whales spent 2082 ETH to bulk buy 45 Punks, boosting market sentiment.

Market liquidity improves: The price of Ethereum rebounds above $3800, reducing on-chain transaction costs. The total market capitalization of NFTs exceeds $6 billion, reaching its highest level since early February, with a 24-hour trading volume surge of 154% to $41.4 million.

Sector rotation effect: During Bitcoin's consolidation, funds shifted towards high-volatility assets. Solana ecosystem NFTs (such as Mad Lads) saw a rebound due to SOL rising to $195, enhancing cross-chain liquidity.

Rise of utility NFTs: Projects like RWA (real estate tokenization) and GameFi (Axie Infinity) that combine practical use cases are gaining attention, driving the market's transformation from speculation to value support.

Risk warning: Rapid short-term increases may trigger corrections; attention should be paid to ETH price fluctuations and regulatory dynamics.

The performance of $BNB today (July 22, 2025) shows a fluctuating upward trend, with the current price oscillating around the range of $760-$772, a 24-hour increase of 1.45% to $771.14, and a total market capitalization of $107.2 billion with a trading volume of $2.81 billion. Technical analysis indicates that BNB rebounded after a four-hour correction, with key support levels at $753-$738. If it stabilizes above $762, it may challenge resistance levels of $775-$782; conversely, if it breaks below support, it may test the range of $733-$710. Market sentiment is neutrally bullish, but caution is advised due to the high volatility of the cryptocurrency market and the impact of Bitcoin's pullback on altcoins.

Recently, after BNB broke through the resistance of $617, bullish sentiment is supported by the ecological advantages of the Binance platform (such as smart chain applications) and an overall industry recovery. However, there are still policy risks and competitive pressures in the market. Investors should pay attention to the breakthrough situation of the key resistance level of $760 and assess the continuation of the trend based on changes in trading volume.