Recent data shows that the Ethereum network is undergoing significant changes. Recently, approximately $2.38 billion worth of ETH is waiting to exit the network, while $1.14 billion in funds is preparing to enter. This phenomenon has attracted widespread attention in the market. It is worth noting that Lido's staking share has dropped to 25%, hitting a new low since 2022. There has also been a significant change in institutional holdings, with The Ether Machine surpassing Coinbase with a holding of 170,000 ETH, rising to the fourth position.

The pace of development in the Web3 and cryptocurrency sectors is accelerating. Hong Kong is about to implement stricter stablecoin regulatory policies, with violators facing a maximum of 6 months in prison. Meanwhile, Ruihe Digital Intelligence has secured HKD 80 million in funding to expand its Web3 business. In South America, the Brazilian government has chosen to issue agricultural bonds worth USD 130 million on the XRP Ledger, marking an important step in the modernization of private credit.

The investment market is quietly shifting. The altcoin season index has fallen to 37, indicating that the current market is still primarily dominated by institutional investors. Analysts point out that since retail investors have not yet entered the market on a large scale, there may still be room for market growth. Some listed companies, such as Quantum Solutions, have announced plans to significantly increase their holdings of Bitcoin, demonstrating their confidence in the future value of 'digital gold'.

However, there are still risks in the crypto market. The PUMP project suffered a loss of 6 million USD due to operational errors, while a whale lost 5 million USD in altcoin trading on the Base chain. Additionally, there has been new progress in the case involving the MIT brothers, who are suspected of manipulating MEV bots to steal 25 million USD, as the judge dismissed their motion to withdraw the case.

In terms of technological innovation, Solana plans to increase its block capacity by 66%, while Zircuit has launched an AI trading engine, showcasing the continuous advancement of blockchain technology. Notably, the privacy public chain Horizen's token ZEN has completed its migration to Base, which may open a new chapter for Private DeFi.

These developments indicate that although the cryptocurrency market still faces challenges, a balance between innovation and regulation is gradually taking shape, laying the foundation for the long-term healthy development of the industry.