链观者

I. Summit Background: From 'Advisory Committee' to 'Crypto Davos'

1. Trump's 'Crypto Flip-Flop'
The originally planned 'Crypto Advisory Committee' composed of 24 industry leaders has been aborted, replaced by the White House summit on March 7. The birth of this 'crypto Davos' is essentially a regulatory arbitrage game by the Trump team: it is both courting the crypto industry for political donations (Coinbase, Crypto.com, etc. have already donated millions of dollars) and creating market expectations through the concept of 'strategic reserves' to build momentum for re-election.

2. The 'Fort Knox' Fantasy of Strategic Reserves

The Web3 world is never short of speculators, but a real public chain platform must be the guardian of the rules. When GoPlus Security (GPS) openly tore up its airdrop commitment and maliciously raised the threshold for retail investors just as the token was about to land on Binance, this farce thoroughly exposed the essence of its 'vampire-style capital game.' Binance's thunderous crackdown is not only a wake-up call for speculators but also a solemn vow to the entire Web3 ecosystem: those who deceive users will inevitably suffer backlash!
1. GPS's 'Airdrop Trap': Rules change frequently, and retail investors become the victims.
At the sensitive moment when the token is about to land on Binance, GoPlus Security was exposed for temporarily modifying the total amount of airdrop distribution, originally promising to allocate 9.5% of the total supply of tokens to community airdrops. However, the project party has now decided to reduce the airdrop ratio to 5% of the total supply. This kind of flip-flopping behavior has directly led to a large number of ordinary users losing their qualifications, while early capital investors can easily harvest chips through early arrangements. Binance's decisive termination of the listing is a complete denial of this 'harvesting-style marketing'!

Why did it rise to 81500?
Trump's monetary reserve policy has not been recognized by the whales. The price drop beginning at $95,000 directly led to a chain of liquidations due to high leverage, with over $1.2 billion liquidated across the network in the past 24 hours, 80% of which were long positions. The culprit of this massacre is the classic 'both long and short kill' scenario in the crypto space: after the price broke below the key support level of $85,000, programmatic trading triggered stop-loss orders, causing a chain reaction.
As the price continued to decline to the point where Trump's monetary reserve policy was released yesterday, miners could no longer hold on. On-chain data shows that multiple mining pools urgently sold nearly 3000 Bitcoins (approximately $250 million) to pay for electricity after the price fell below $83,000, and the approach of the miner shutdown price ($78,000) caused panic selling in the market.

On March 4, 2025, Binance suddenly listed the token GPS (GoPlus Security), causing a stir in the market. This obscure new coin is backed by an 'invisible champion' in the blockchain security field.
The Past and Present of GPS
The founding team of GoPlus Security is known as the 'dream team in the security field.' Founder Mike was a core figure in 360 Security Browser, later founded Orange Browser and Delphy prediction market, and shifted to blockchain security in 2019, founding Yixuan Tech (a blockchain security data platform). Co-founder Yufeng Xu (with an economics background from Nankai University) and technical lead Allen Zhang (former chief architect at Ant Group) bring a dual background of traditional security and blockchain technology to the team.

I. The rise of RED: From 'marginal oracle' to Binance's darling.
1. Technical narrative: Cross-chain ambition and capital push.
RED (RedStone) claims to be a 'multi-chain oracle', claiming to break the data barriers between EVM and non-EVM chains, solving the issue of data islands between chains. Its core technology is 'modular design' and 'dynamic data flow', but there is limited real innovation—similar concepts like Chainlink and Band Protocol already occupy 80% of the market share. Binance's choice of RED is more about 'supporting second-tier projects to balance the ecosystem' rather than a technical breakthrough.

A tweet from Trump once again sent the cryptocurrency market into a frenzy—on the evening of March 2, Bitcoin violently surged nearly $10,000 from $85,000, approaching $95,000. Behind this carnival of 'policy markets' lies a blatant game of capital and regulatory arbitrage.
I. Tweet Storm: A Precise 'Policy Maneuver'
1. The Smoke Screen of 'Strategic Reserve'
Trump announced the advancement of the 'cryptocurrency strategic reserve' on Truth Social, including Bitcoin, Ethereum, SOL, XRP, and ADA in the reserve targets, emphasizing that 'America must become the crypto capital.' Within just two hours, Bitcoin surged by 11%, while SOL, XRP, and others rose over 30%. However, this so-called 'strategic reserve' remains a castle in the air— the White House only promised to hold a summit on March 7 to discuss it, with no concrete implementation plan formed yet.

I. Why the crash?
1. Dollar liquidity tightening and the Fed's hawkish shadow
TGA account bloodletting effect: The US Treasury recovers liquidity through the Treasury General Account (TGA), causing dollar cash reserves to rise to $800 billion, shrinking the market's liquidity pool. The dollar index soared above 105, putting pressure on risk assets, with Bitcoin being the most affected.
Interest rate cut expectations fail: Stronger-than-expected US economic data (such as services and employment markets) weaken the expectation for a significant interest rate cut by the Federal Reserve, causing the 10-year Treasury yield to rise to 4.8%, with funds shifting from high-risk assets to fixed-income products.

What is BAN
The past and present of BAN
The birth of BAN stems from a cross-border experiment between art and cryptocurrency. In October 2024, Michael Bouhanna, vice president of Sotheby's, publicly announced his banana artwork (Comedian) (created by Italian artist Maurizio Cattelan) in the auction on his personal social media, and the community accidentally discovered that his personal wallet address had issued the meme coin BAN with the same name.
Artistic Narrative: BAN uses the absurd artistic image of "bananas on the wall" as its core, attempting to satirize the crypto market's craze for Meme culture. After its white paper was leaked, it was quickly interpreted as a symbol of "art capital on the chain."

BNX (BinaryX), as the native token of the Web3 gaming platform, has recently experienced a continuous rise due to the positive effects of the Four.meme brand overhaul. After breaking through $1 on February 13, 2025, the price began to consolidate, climbing again to $1.0349 by February 14. Based on on-chain data, market dynamics, and the project's fundamentals, the core driving factors for the price increase can be summarized as follows:

 1. The Continuous Fermentation of the Four.meme Brand Restructuring        
1.       Brand Upgrade and Ecological Expansion        
   BinaryX announced its rebranding to 'Four' on February 8, 2025, and incubated the meme token Four.meme, aiming to inject vitality through the new brand and expand the Web3 gaming ecosystem. This upgrade not only attracted attention from the existing community but also drew in speculators from the meme coin space.