Written by: Deep Tide TechFlow
On September 17, Aster completed its TGE, and the $ASTER token's performance on its first day exceeded market expectations.
Data shows that within less than 24 hours of its launch, the total trading volume of the token surpassed $310 million, with over 330,000 new independent wallet addresses created. The opening price was $0.03015, reaching a daily high of $0.528, with a single-day increase of approximately 1650%. The platform's TVL also surged from $350 million to $1 billion.
This kind of start is indeed eye-catching.
A product is considered useful and has users, which forms the basic foundation for DEXs after an airdrop, and also determines whether a project has income for buybacks, thereby further enhancing the value of the token.
A more fundamental question worth discussing is: when Hyperliquid has already occupied half of the perpetual DEX market with the approach of "performance is justice," and the monthly trading volume has surpassed 330.

Source: RPC Cat Friends Association (Nine Lives Community)
Introduction of the guest speakers:
David Namdar (X@namdar): CEO of BNC and co-founder of Galaxy Digital, with over a decade of experience in cryptocurrency and capital markets. He currently serves as the CEO of BNB Network Company (BNC), a Nasdaq-listed company, leading a digital asset treasury project centered around BNB, referred to by outsiders as the "BNB version of MicroStrategy."
CZ: The founder and former CEO of Binance, and one of the most influential entrepreneurs in the global cryptocurrency industry.
David: Okay, good morning, CZ. It's great to see you. CZ: Good morning, David. It's great to see you.

Written by: David, Deep Tide TechFlow
"Let's take a break and wait for the Federal Reserve's decision before taking action." In recent days, there has been no shortage of a wait-and-see attitude in the investment community.
At 2 AM Beijing time on September 18, the Federal Reserve will announce its latest interest rate decision. This will be the 5th meeting since the rate cut in September last year. The market expects a further decrease of 25 basis points, from the current 4.5% to 4.25%.
A year ago at this time, everyone was waiting for the start of the interest rate cut cycle. Now, we are already halfway through the interest rate cuts.
Why is everyone waiting for this shoe to drop? Because history tells us that after the Federal Reserve enters the rate-cutting channel, various assets often experience a surge.
So where will Bitcoin go after this interest rate cut? How will the stock market and gold perform?
Reviewing the Federal Reserve's interest rate cut cycles over the past 30 years, perhaps

Original authors: Chris Beamish, CryptoVizArt, Glassnode
Original translation: AididiaoJP, Foresight News


Bitcoin prices are fluctuating between $110,000 and $116,000, with profit-taking and weakened ETF fund inflows dragging down the upward momentum. The influence of derivatives is too strong, with futures and options playing a balancing role in the market. Recovering $114,000 is key for the upward trend, while falling below $108,000 could face deeper pressure.

Abstract

After retreating from its historical peak in August, Bitcoin is currently still in the "gap" range of $110,000 to $116,000. The rebound from $107,000 has received support from dip buyers, but the selling pressure from short-term holders has so far limited it.

Author: Viee, Biteye

In the past few years, stablecoins have been the most "unobtrusive" protagonist in the crypto market, yet their scale continues to grow. Cross-border remittances, trading settlements, compliance pilots... stablecoins have always been an indispensable gear in the flow of crypto capital.
This year, a more milestone change has occurred: stablecoin issuers are no longer satisfied with "standing on the chain" but have begun to create their own chains. In August, Circle announced the launch of Arc, followed closely by Stripe's Tempo releasing more details. These two giants, who have been deeply involved in stablecoins for many years, have taken this step almost simultaneously, and the underlying logic is intriguing.
Why do stablecoins need their own chain? In this seemingly "B-end oriented" game, do retail investors still have a chance? When stablecoins control their own "money path", general public chains like Ethereum and Solana.

Author: Bill Qian
This article is a sister piece to "How to Protect Your Wealth in Turbulent Times". We will discuss the following questions step by step. First, what exactly is wealth storage; second, why has gold become the winner in modern times; third, why will Bitcoin be a better "gold" in the 21st century and beyond.
For the past 5000 years, the competition for the "best store of value asset" has existed, but gold, with its scarcity and the value consensus formed over millennia, has gradually become the king of wealth storage. At the same time, Bitcoin is slowly eroding and shaking gold's market position, and in this process, it offers our generation epic opportunities for wealth creation and transfer.
The History of Money
To compare gold and Bitcoin, let's first talk about the largest category in this realm: money. Money has three core functions: medium of exchange, valuation.

Text | Liu Xiaochun

The United States, Hong Kong, the European Union, and others are enacting legislation related to stablecoins. Some voices believe that stablecoins have gained legal status and can therefore operate freely: first, stablecoins can be issued as long as a license is obtained; second, stablecoins can be used in all payment circulation areas. This line of reasoning is incorrect.
Having a bill does not mean that stablecoins are legal; having a license does not necessarily guarantee the successful issuance of stablecoins; stablecoins are not legal tender and cannot ensure acceptance in any payment domain; as one of many payment tools, stablecoins have their specific application scenarios, but not every application scenario is suitable for the use of stablecoins.
The outcome of the legalization of stablecoins may not necessarily align with the results hoped for by stablecoin issuers seeking legalization.

Intermediary for currency payment

Stablecoins had already been on the market before the relevant stablecoin legislation in the United States, Hong Kong, and other places.

Author | Jiawei @IOSG

Introduction

▲ Source: CMC
For the past two years, the market's focus has been drawn by a single question: Will the altcoin season come again?
Compared to the strength of Bitcoin and the advancement of institutionalization, the performance of the vast majority of altcoins has been lackluster, with most existing altcoins' market values shrinking by 95% compared to the previous cycle. Many new coins, which were surrounded by various halos, are also mired in difficulties. Ethereum has also experienced a prolonged period of emotional lows, only recently showing signs of recovery due to trading structures like the "coin-stock model."
Even in the context of Bitcoin hitting new highs, and Ethereum rebounding and stabilizing relatively, the overall sentiment towards altcoins remains sluggish. Every market participant is looking forward to the market reproducing the epic bull market of 2021.
The author presents a core argument here: a "big" like that in 2021.

The article explores the relationship between the current weakness in the labor market and economic growth, pointing out the decline in the bargaining power of ordinary workers, with capital expenditure dominating the economy. The Fed faces the dilemma of debt and inflation, leading to an intensified focus on hedging assets like Bitcoin and gold. The liquidity-driven market shows an optimistic outlook for Bitcoin, which is expected to perform better than other assets in the coming months. In conclusion, the liquidity cycle will drive Bitcoin to become a major hedging tool.

Author: Tristero Research
Compiled by: Deep Tide TechFlow

Background Introduction

The slowest assets in finance—loans, buildings, commodities—are being tied to the fastest market in history. Tokenization promises liquidity, but what is actually created is merely an illusion: a shell of liquidity wrapping a non-liquid core. This mismatch is referred to as the "real world asset (RWA) liquidity paradox."
In just five years, RWA tokenization has surged from an $85 million experiment to a $25 billion market, achieving a "245-fold increase between 2020 and 2025, primarily driven by institutional demand for yield, transparency, and balance sheet efficiency."
BlackRock has launched tokenized government bonds, Figu

The WLFI project is considered a highly centralized meme coin lacking substantial utility, with questionable backgrounds of its co-founders raising concerns. The project's relationship with the Trump family is primarily for marketing purposes, while the actual operations are managed by unreliable individuals. Token holdings are concentrated, with significant fluctuations and a lack of transparency, so investors are advised to keep their distance and proceed with caution.

Author: The Economist
Compiled by: White55, Mars Finance
One thing is clear: the view that cryptocurrencies have not produced any noteworthy innovations has long become a thing of the past.
In the eyes of the conservative folks on Wall Street, the "use cases" of cryptocurrencies are often discussed with a tone of mockery. Veterans have seen it all before. Digital assets come and go, often in a blaze of glory, exciting those investors who are keen on memecoins and NFTs. Besides being used as tools for speculation and financial crime, their utility in other areas has repeatedly been found to be flawed and insufficient.
However, the latest wave of enthusiasm is different.
On July 18, President Donald Trump signed the Stablecoin Act (GENIUS Act), providing industry insiders with long-awaited regulations for stablecoins (cryptographic tokens backed by traditional assets, typically the US dollar).

Original Title: The State of Crypto Venture Capital in 2025
Original author: Paul Veradittakit, Partner at Pantera Capital
Original compilation: Luffy, Foresight News

Summary
Since the beginning of this year, cryptocurrency companies have raised over $16 billion and completed more than 100 merger and acquisition deals. The industry is heading towards record levels, with the total transaction volume exceeding that of the entire year of 2024.
· Driven by greater transparency in U.S. regulation and global growth momentum, the foundation of this cycle is more solid.
· Strategic mergers and acquisitions