Web3 Heaven

Tomorrow, Hong Kong's "Stablecoin Regulations" will come into effect, and I came across an interesting comment which is——

"Eunuchs fantasize about sex life, thinking that finding a partner can lead to everlasting love"

Of course, this comment is just for fun; let me summarize the key points of the "Stablecoin Regulations" for a better understanding of Hong Kong's policy this time.

👇

✅ Key Timeline

1⃣ Institutions seeking to apply in advance must submit applications before September 30 to receive expedited processing.

2⃣ The first batch of licensed stablecoin issuing institutions is expected to be announced in early 2026, with the first phase issuing only 3-4 licenses, totaling no more than 10 initially.

3⃣ For existing stablecoin issuers operating in Hong Kong, there will be a six-month transition period from August 2025 to January 2026, and they must apply for licenses before November 2025, or they will face liquidation.

✅ Strict Licensing Requirements

1⃣ Applicants are required to maintain a minimum paid-up capital of HKD 25 million and must establish a substantial operational entity in Hong Kong, including a local office and resident staff.

2⃣ All issued stablecoins must have 100% reserve asset backing.

✅ KYC Requirements Spark Industry Debate

1⃣ A comprehensive KYC protocol has been introduced, requiring stablecoin holders to complete identity verification, and suspicious wallet addresses must undergo mandatory verification, with data retention for at least 5 years.

2⃣ For redemption processing, regulations require requests to be processed within one working day after completing necessary conditions such as identity verification and fund path confirmation.

✅ Strong Industry Interest

1⃣ There are 50 to 60 potential applicants, most of whom are payment institutions and well-known internet companies, many of which have support from China.

2⃣ Confirmed applicants include JD Technology, Ant International, Standard Chartered Bank (Hong Kong), and Yuan Chuang Technology.

The story of early internet domain names selling for astronomical prices is about to unfold again in crypto.

The "crypto" username on TG has now received a bid of 25 million dollars.

During this period, RWA has been gaining significant attention in the domestic market. Many traditional business owners have approached me for consultations, all wanting to explore the possibility of project tokenization on the blockchain. To be honest, the majority of domestic RWA projects still prioritize promotional pilot programs over actual value.

As a KOL focused on the RWA sector, I have compiled the basic information on five major RWA projects.

Those who have not yet positioned themselves should do so quickly.

💎 In-depth analysis of five major RWA projects

1️⃣ ONDO Finance - Market Leader (3.35 billion USD)

Price: $1.06 | Year-to-date increase: +545%

Why is it worth paying attention to?
Ondo directly tokenizes U.S. Treasury bonds, allowing you to enjoy government-level secure returns in DeFi. In 2024, it handled over 2 billion USD in Treasury transactions, and even BlackRock proactively collaborated!

Core highlights:
Deep collaboration with BlackRock's BUIDL fund
Fully compliant tokenization of Treasury bonds
Provides stable returns for risk-averse investors

2️⃣ Polymesh (POLYX) - Institution-Specific Chain (339 million USD)

Price: $0.407 | Recent increase: +44%

Unique aspect:
This blockchain is specifically designed for compliant assets! It has built-in identity verification and regulatory compliance functions, making it the favorite choice for institutions to issue stocks, bonds, and other traditional securities.

Investment logic:
As more traditional financial institutions enter the market, the demand for specialized compliant chains will explode.

3️⃣ Centrifuge (CFG) - SME Financing Expert (170 million USD)

Price: $0.26 | Key technical resistance level breakthrough

Pain point solution:
Struggling with financing for small and medium-sized enterprises? Centrifuge turns invoices and accounts receivable into DeFi collateral, securing funds directly from the crypto market!

Why it's promising:
Deep integration with MakerDAO
Addresses trillion-dollar market pain points
Price just broke through a key technical level

4️⃣ TrueFi (TRU) - Hybrid Lending Pioneer (37 million USD)

Price: $0.037 | Emerging from a long-term downtrend

Innovative model:
Lends to both crypto users and traditional enterprises, diversifying risk and stabilizing returns. Regulatory funds are using it to access crypto liquidity!

5️⃣ Goldfinch (GFI) - Emerging Market Finance (74 million USD)

Price: $0.72 | Consolidating and gathering strength

Market opportunity:
Focusing on lending in emerging markets, providing funding in areas underserved by traditional banks, offering both social value and investment returns.

#ONDO‬⁩ #cfg #POLYX. #TRU #RWA

BNB reached a new high, briefly surpassing 850. Let's analyze the driving factors behind this:

✅ First, Binance Wealth Management launched RWUSD (a principal-protected financial product), which offers tokenized U.S. Treasury yields from real-world assets (RWA), with an annualized yield of up to 4.2%.

This enhanced the attractiveness of the BNB ecosystem, but the market likely leaked the news in advance, as BNB had already surged significantly before the announcement.

✅ Secondly, several publicly listed companies (such as Windtree Therapeutics and Nano Labs Ltd) have adopted BNB as a treasury reserve asset, purchasing large amounts of BNB through financing plans.

This directly boosted market confidence and temporarily raised BNB prices. For example, Nano Labs holds 120,000 BNB, valued at approximately 90 million USD.

✅ Then, improvements in on-chain technical indicators also contributed. The Maxwell upgrade of BNB Chain (launched on June 30) enhanced network performance, including reducing block time to 0.75 seconds and speeding up transaction confirmations to 1.875 seconds.

Additionally, metrics such as Total Value Locked (TVL), stablecoin market capitalization, and PancakeSwap trading volume have climbed to historical highs in 2025, driving price increases.

✅ Finally, the token burning mechanism is a long-term logic. BNB's deflationary model reduces supply through quarterly burns (for instance, 1.59 million BNB were burned on July 10, valued at 1.024 billion USD), supporting price increases in the long run.


#BNB创新高 $BNB

Let's analyze why the rise of ETH often drives the altcoin boom.
There are mainly three aspects:

🦄Fund rotation effect

The classic pattern is that BTC rises to a high level and then goes sideways → funds begin to look for higher returns → ETH takes the lead → altcoins explode

The data shows that the total market value of altcoins has increased by $216 billion in the past two weeks, while $BTC has only increased by 16%, while $ETH has soared by 61%!

🐳Changes in market psychological behavior

Bitcoin usually attracts funds in uncertain times because investors prioritize security and value storage properties.

However, when Ethereum began to surpass Bitcoin, it showed that market participants had a stronger tolerance for risk and were increasingly optimistic about the future of blockchain technology (beyond simple value storage).

This psychological shift created excellent conditions for the peak season of altcoins. The next sentence is to seek higher-yield varieties-altcoins

🐻Ethereum's technical catalyst and network effect

Ethereum's technological development can often serve as a pioneer for broader innovation in the entire altcoin field.

For example, the introduction of Layer-2 scaling solutions will not only benefit Ethereum, but also create opportunities for a range of projects focused on bridging, optimizing, and enhancing the Layer-2 experience.

This means that improvements in the Ethereum space can benefit multiple projects. This interconnectivity means that Ethereum's success can have a multiplier effect rather than an additive effect on the entire ecosystem.

From my observation, the cycle rotation is now clearer than before.
The original rise of altcoins was often more driven by speculation (and it is still), but now the cycle of altcoins seems to be a little clearer than the connection with actual utility and adoption indicators (a good thing).
#ETH #MemeWatch2024 #ETH重返3800