火讯财经

Article reprinted from: Felix

Author: Dappradar

Compiled by: Felix, PANews (This article has been edited)

In April, the development of blockchain games showed mixed results. User activity declined, funding slowed, and market attention shifted toward AI and real-world assets. However, beneath the surface, real progress is happening: new infrastructure is coming online, major publishers are increasing investments, and high-quality games are also nearing release.

This report will explore the current trends shaping the development of blockchain gaming, the quietly achieved results, the evolving narratives, and what all this means for the future.

Article reprinted from: Xiao Za lawyer

Recently, the team has continuously received a large number of RWA project inquiries, with underlying assets being quite diverse, including agricultural products, real estate, precious metals, and even some projects that sound quite fantastical...

In fact, the team has previously made it clear that under the premise that China's announcements on 9.4 and 9.24 remain effective, except for RWA projects issued under strict review through the Hong Kong Ensemble sandbox, which possess a certain 'criminal risk resistance capability', other types of RWA are very dangerous (especially RWA projects issued to mainland residents).

Article reprint source: Weekly Selection

PANews Editor's Note: PANews has selected a week's worth of quality content to help everyone use the weekend to fill in the gaps. Click the title to read.

Meme Launch Platform Battle

Pump.fun's dominance is challenged by new platforms, the MEME coin Glonk traffic battle is ignited, and the founders step in to support.

On May 14, the MEME market witnessed a striking showdown, with the MEME coin named Glonk launching simultaneously on the two major Launchpad platforms Pump.fun and Letsbonk.fun, with the founders of both platforms personally rallying support. This battle for traffic not only quickly ignited market enthusiasm but also revealed the increasingly fierce competition among MEME issuance platforms.

Article reprinted from: Deep Tide TechFlow

I have a bold theory: all Chinese exchanges are essentially a 'digital version of the Forbidden City.' The exchange owners can treat it as 'emperors,' and all the drama in exchanges can be understood as 'court politics.'

Some emperors, like Jiajing, devoted themselves to Daoism, mastering imperial political tactics, allowing two factions among his subordinates to mutually check each other, turning a blind eye to internal corruption, and willing to share some power, leading to a situation where one person's success benefits all.

Some emperors emphasize absolute loyalty, are decisive in their actions, and do not tolerate anyone bargaining. Once someone tries to seek more benefits and challenge authority, they are all swept out.

Article source: Felix

Author: A Fox in Web3, Crypto KOL

Compiled by: Felix, PANews (This article has been edited)

Decentralized Finance (DeFi) is often compared with Traditional Finance (TradFi), and it has become a vast and exponentially growing field in Web3. The goal of DeFi aligns closely with the often-heard phrase in the crypto space of 'providing banking services for the unbanked.'

The promise of providing global financial services without banks is a noble goal, and much of the allure of Web3 stems from this. This article aims to reflect on the development of DeFi over the past year from the current perspective.

Article reprinted from: BlockBeats

Original title: The Genesis Story: How Crypto Found Me

Original author: @hmalviya9

Original text translated by: zhouzhou, BlockBeats

Editor's note: Although the current usage of RWA perpetual products (such as Ostium) has surged, the GLP-style liquidity model is unsustainable due to high funding rates, zero-sum games between traders and LPs, and a lack of hedging mechanisms, which limits platform expansion. In comparison, HyperLiquid performs better with its more flexible HLP model. In the future, if Ostium shifts to an order book model, reduces fees, and improves market efficiency, it may achieve long-term healthy development.

Article reprinted from: Odaily Planet Daily

Source: Forbes

Translated by: Moni, Odaily Planet Daily

Editor's note: The stablecoin market has a major news item—Ripple has made a $4-5 billion acquisition offer to its IPO-bound competitor, stablecoin provider Circle Internet Group! Yes, you heard it right, it’s Ripple, which just got the U.S. Securities and Exchange Commission to drop its appeal and acknowledge that XRP is not a security, but this offer was considered too low and was rejected. It is said that Ripple remains very interested in Circle but has yet to decide whether to make another offer.

Article reprinted from: Project Dynamics.

Decentralized asset management platform Maple Finance today announced that its total locked value (TVL) has surpassed $1 billion. To celebrate this milestone achievement, Maple has launched a month-long limited-time incentive plan, offering users rewards of up to $500,000 USDC. This activity revolves around its flagship product SyrupUSDC, aiming to promote further growth of this product and attract more users to participate in Maple's decentralized financial ecosystem.

The participation method is simple, with no mandatory lock-up.

This incentive activity will last from May 1, 2025, to May 31, 2025. Any user who deposits SyrupUSDC during the event will be eligible to participate. Simply deposit at least 1,000 USDC on the Lend page of Syrup Finance and fill in your email address to automatically receive a lottery ticket. For every 1,000 USDC deposited, users will receive one lottery ticket; the more you deposit, the more tickets you receive, thus increasing the chances of winning.

Article Reprint Source: Yuliya

Source: Dune, Slice Analytics

Compiled by: Yuliya, PANews

Amid various innovations in the blockchain industry, Decentralized Physical Infrastructure Networks (DePIN) are rapidly emerging as a bridge to on-chain real-world assets. Whether it's shared GPUs, telecom networks, or street map collection, DePIN is reshaping how infrastructure is built and operated through crypto incentive mechanisms. Solana is gradually becoming the core platform of this trend, with its high-performance network providing ideal scalability for DePIN projects.

This article is based on the latest research report jointly released by Dune and Slice Analytics, providing an in-depth analysis of the development status, market performance, and on-chain data of several core DePIN projects on Solana. The report data is current as of April 22, 2025, providing a clear picture of this emerging ecosystem and revealing its underlying verifiable growth trajectory.

Article source: Yuliya

Interview: Tong, PANews

Editor: Yuliya, PANews

Against the backdrop of increasingly fierce competition in public chains, Aptos is steadily moving towards its strategic positioning as a 'global transaction engine' through technological innovation and ecological expansion. Since breaking through a total locked value (TVL) of 1 billion USD for the first time last November, Aptos reached 1.03 billion USD by the end of March. Furthermore, the market capitalization of stablecoins also surpassed 1 billion USD for the first time on March 24, showing a year-on-year growth of more than ten times, demonstrating strong ecological appeal and financial capacity.

In this context, Aptos has not only achieved continuous iteration at the technical level but has also made multiple breakthroughs in ecological construction: Aave completed its first non-EVM environment test network deployment, and DeFi activity has significantly increased. To meet the rapidly growing transaction demand, the Aptos team continues to advance technologies such as Zaptos and Shardines, accelerating the construction of an underlying architecture supporting millions of TPS, enhancing its core advantages in performance, stability, and user experience.

Article reprint source: Block Unicorn

Article author: Zeus

Article translation: Block Unicorn

Preface

Currency is the foundation of economic activity, yet we rarely explore the characteristics that make currency effective. As digital currencies challenge traditional concepts of money, we need to revisit which traits enable currency to fulfill its essential functions in the modern economy.

History shows that the definition of currency lies not just in its technical characteristics but in its ability to evolve through different stages of development. True currency must go through a challenging evolutionary journey that most emerging currencies cannot complete.

Article reprinted from: Foresight News

Author: Matt Hougan, Chief Investment Officer of Bitwise

Translated by: Luffy, Foresight News

Earlier this month, I delivered a closing speech at the end of the first day of a national brokerage conference.

This is itself quite notable. The four major brokerages (Merrill Lynch, Morgan Stanley, Wells Fargo, and UBS) control over $10 trillion in client assets, and these platforms have not yet made it easy for their advisors to access Bitcoin ETFs. But as the invitation for my keynote speech suggests, this situation is rapidly changing.

Article reproduced from: Golden Finance

Source: Pantera Capital Blockchain Letter, April 2025

Author: Cosmo Jiang, Partner at Pantera Capital; Translator: AIMan@Golden Finance

In 2025, a series of events occurring in the cryptocurrency space and the broader macro environment have impacted the market. Major macro forces are clearly dominating, leading to a sustained retreat in risk appetite across most sectors and asset classes. While digital assets are at the forefront of growth investments, they are far from immune to their effects.

2025 started optimistically, with political attitudes shifting towards cryptocurrencies, driving crypto prices up from the November elections last year to January this year. However, after Bitcoin and Solana hit all-time highs in January, Trump's inauguration turned into a typical 'buy the rumor, sell the news' scenario. The S&P 500 index and Bitcoin both fell by 15-20% (although Bitcoin has since recovered somewhat). But looking internally, high-growth and small-cap stocks performed worse. For example, the second-largest token, Ethereum, dropped by 47%. This pullback can mainly be attributed to macro factors and some unique issues related to digital assets.

Article reprinted from: MarsBit

Bitcoin soared to $95,490, and the market is holding its breath for Trump's hundred-day governance speech. Over the past week, investors withdrew more than $4 billion in BTC from exchanges, sending strong bullish signals.

Trump's policy mix—potentially establishing a Bitcoin strategic reserve and restarting tariff threats—is creating a situation where opportunities and risks coexist. As the stock market comes under pressure, Bitcoin is benefiting from growing safe-haven demand.

On-chain data shows a sharp decline in exchange Bitcoin reserves. If market momentum and supply tightening continue, the conditions for breaking the $100,000 mark are maturing.

Article reposted from: Frank

Author: Frank, PANews

After the severe adjustments in the early market, the cryptocurrency market in April seems to have a breath of fresh air. Although mainstream assets like Bitcoin are still seeking direction within a range, the altcoin sector has shown certain signs of recovery, and market sentiment has eased compared to before. In this month (from April 1 to April 28, 2025), how did various tokens perform? Which tracks and ecosystems are more resilient? PANews analyzed the data of mainstream USDT spot trading pairs on Binance, attempting to reveal the real picture of the recent market.

Article reprinted from: Odaily Planet Daily

Author: The Rollup

Source: The Rollup X account

Translation: Azuma, Odaily Planet Daily

Editor's Note: The well-known cryptocurrency-themed interview channel The Rollup has updated its latest episode today. The guests this time are BitMEX co-founder Arthur Hayes, who has been quite successful in market predictions lately, and Mike Silagadze, CEO of ether.fi, who just launched a $40 million fund. The interview covers various topics including market predictions, ETH/BTC price performance, BTC and gold, and fundamental analysis.

Article source: Felix

Author: Connor Sephton, CryptoNews

Translation: Felix, PANews

It has been 100 days since Trump returned to the White House, during which global markets have been tumultuous, filled with uncertainty and chaos.

When Trump successfully secured re-election, the crypto market was filled with hope. However, despite some important pro-Bitcoin statements made after Trump took office, crypto enthusiasts still felt disappointed.

Just before the inauguration, Trump announced the official token $TRUMP, leading to market frenzy while also sparking controversy. Some critics argue that this move presents obvious conflicts of interest and could even threaten national security.

Article source: Trading Moment

1. Market Observation

Keywords: ALPACA, MIKAMI, BTC

The May Day holiday is approaching, and the U.S. will announce the Q1 2025 GDP data tonight, which will be an important assessment of the economic situation during Trump's early administration. Morgan Stanley downgraded its Q1 GDP expectation from zero growth to a year-on-year decline of 1.4%, Goldman Sachs adjusted from -0.2% to -0.8%, and JPMorgan revised it to -1.75%. The surge in corporate imports due to the panic buying triggered by Trump's tariff threats has widened the trade deficit. Analysts believe that hoarding before the tariffs distorted economic data, and the actual damage may have been exaggerated. Additionally, the U.S. non-farm payroll data will be released on May 2, becoming another market focus. Economists warn that the tariff war initiated by the Trump administration may lead to severe turbulence in the U.S. labor market, increasing the likelihood of a rate cut by the Federal Reserve in June. Apollo's chief economist predicts that the U.S. labor market may show significant weakness in the coming months. The market generally believes that the tariff dispute may exacerbate inflation, increase unemployment, and even trigger an economic recession.

Article source: Deep Tide TechFlow

Ancestor: Deep Tide TechFlow

Last year, we noticed the VIRTUALS Protocol early on when the AI Agent craze had not yet begun, and the market cap of the VIRTUAL token was only around $800k.

The later story is well known, Virtuals initiated a wave of AI Agents on Base, and besides the bright performance of the Virtuals tokens themselves, it also led to the phenomenon of the AIXBT token.

But after a cycle, the hype around AI Agents gradually dissipated, and the market seemed to fall into silence; with the emergence and iteration of large models like DeepSeek, everyone felt that the narrative of AI Agents in Web3 was gradually being debunked and was of little use.

Article source: Bitrace

The year 2024 is a milestone year for the Web3 industry. The market capitalization of crypto and the adoption of industry infrastructure have both reached unprecedented heights, while the criminal industry has also begun to increasingly utilize crypto infrastructure to optimize their operations or create new paradigms for crime. This report aims to statistically disclose the scale of major types of cryptocurrency crimes and clarify the impact of compliance facilities on the scale of the criminal industry, calling for the industry and government to pay attention to the harms caused by cryptocurrency crime.

Due to space limitations, this article only presents some conclusions and data from the report. You are welcome to visit the Bitrace official website to download the complete version.