TokenAlchemist

From Liquidity-Driven to Value-Oriented: A New Era in the crypto market
For investors who experienced the bull market of 2020-2021, the current market conditions are confusing and challenging. The prosperous period driven by global central bank easing policies is over, and today's global financial markets are at a delicate balance: on one hand, unexpectedly strong economic data, and on the other hand, firm monetary tightening policies, with the high interest rate environment weighing down on various risk assets like a mountain.
The shift in this macro environment has made this round of the crypto cycle exceptionally difficult for investors. The previous speculative model driven by liquidity has become ineffective, replaced by a "value-oriented" market that places greater emphasis on intrinsic value, driven by clear narratives and fundamentals.
However, challenges also contain opportunities. When the bubble bursts, true value investors will welcome their golden age. Because in such a situation,

As the excitement around Decentralized Finance (DeFi) diminishes, the NFT market has rapidly heated up, with a total trading volume reaching $133 million. The uniqueness of NFTs has garnered attention in the fields of digital art and collectibles. However, compared to DeFi, the NFT market is still relatively small, and its long-term development requires technological advancements and a rational approach to investment. The future of NFTs is full of potential, but whether they can become a new hotspot remains to be seen.

Generative artificial intelligence is profoundly changing creation tools and media, bringing zero-cost transformations to creative production. In the future, humans will focus more on the creation process, while intellectual property will face new challenges. Integrating Crypto Assets can provide new economic and social mechanisms for media development.

Recently, multiple potential "Black Myth" projects have emerged in the Web3 field, including Bitcoin scalability solutions, decentralized ownership economy, tokenization of real-world assets, and the development of Web3 games. These projects are expected to lead industry transformation, redefine market rules, and promote the autonomy of the digital economy and a decentralized future.

BitVM technology breakthrough may lead a new round of development in the Bitcoin ecosystem.
The emergence of BitVM marks an important milestone on the path of Bitcoin scalability and programmability. Recently, Bitlayer, based on the BitVM protocol, released the first version of the Finality Bridge testnet, which is seen as a key step in advancing the Bitcoin ecosystem into a new phase.
Unlike traditional Bitcoin cross-chain bridges, Finality Bridge utilizes advanced technologies such as BitVM smart contracts, fraud proofs, and zero-knowledge proofs. This innovative combination not only enhances security but also significantly reduces reliance on third parties. Although it has not yet fully reached the trustless level of the Lightning Network, it has already demonstrated significant advantages compared to existing Bitcoin layer two sidechain solutions, and it has greatly expanded the design space for Bitcoin applications.
Finalit

This article introduces fraud proofs and the implementation ideas of ZK Fraud Proof, focusing on the fraud proof scheme of Optimism and its interactive proof system based on the MIPS Virtual Machine. By locating the disputed operation codes through the Fault Dispute Game, it proposes that ZK Fraud Proof solves the interactive complexity of traditional fraud proofs, improving efficiency, and projects like BitVM have adopted similar ideas.

In the first half of 2023, the cryptocurrency industry experienced significant events such as the collapse of American digital banks, Ethereum upgrades, and changes in Hong Kong policies. Although the market has been highly volatile, technological advancements and participation from financial institutions may bring new development opportunities in the second half of the year. In the future, attention should be paid to improvements in Ethereum's performance, the application of non-private key wallets, and traditional financial ETFs.

As the approval of the Solana ETF approaches, analysts predict that the prices of tokens including JUP, NST, RENDER, BONK, and XRP are expected to rise significantly. Investors need to carefully assess the risks of the crypto market.

Unified "Measurement": The Solv staking abstraction layer provides a "standardized" new interpretation for BTCFi.
With a market size of $1.75 trillion, Bitcoin can be said to be the largest "sleeping pool of funds" in the crypto world. For a long time, this vast asset has neither brought returns to its holders nor injected vitality into the on-chain financial ecosystem. Although DeFi

MetaMask Snaps, as a mini-program in Web3, has been around for a while, but user awareness is still lacking. Facing functional limitations and security challenges, its development and user attraction still require effort. In the future, it may give rise to more similar platforms, but whether Snaps can succeed remains to be seen.

Nigeria and Estonia have strengthened regulations on Crypto Assets, India is following the legality of crypto usage, while South Africa and Spain are taxing crypto transactions. In the market, PayPal and TSL are actively investing in and supporting Bitcoin, a Canadian fintech company has applied for a Bitcoin ETF, and Google searches for Crypto Assets are on the rise.

Lido Centralized Risk Assessment: Are the Actual Impacts Overstated?
With Ethereum's transition to a PoS mechanism, Lido, as one of the biggest beneficiaries, has seen rapid growth in market share, raising concerns and discussions in the community about its potential threats. Some worry that Lido may undermine Ethereum's decentralization features and pose a threat to network security. Others believe that this concern is exaggerated and more like a marketing tactic from competitors.
This article will conduct an in-depth analysis of Lido's market share and centralization risks, objectively assessing its actual impact on Ethereum's decentralization and network security.
Lido's dominance in the Ethereum staking market raises concerns.
Lido is a project that addresses the liquidity issue of staking tokens on PoS blockchains. Through liquid staking, users can receive tokenized versions of their deposited funds, enhancing the liquidity of staking.
Since its launch in 2020, Lido has become a leading platform for Ethereum 2

Cool Reflections in the Blockchain Craze
At the beginning of 2018, a well-known investor's call for entrepreneurs to fully invest in the Blockchain field in an investment group sparked heated discussions and spread widely on social media. In fact, this investor had emphasized the significant impact of Blockchain technology in a previous speech.
As an established internet company, Xunlei was the first to put Blockchain technology into practice. In mid-2017, Xunlei launched a device called WanKeYun, aimed at expanding the company's content distribution network by allowing users to contribute idle bandwidth resources. Users can earn a virtual asset called "WanKeCoin" as a reward. Xunlei executives have stated that WanKeCoin is more similar to a points system, mainly used for internal services rather than for trading purposes.
However, this initiative, originally aimed at reducing bandwidth costs, unexpectedly sparked a market frenzy. The price of WanKeYun devices has been driven up several times the original price in the second-hand market, and WanKeCoin

Hong Kong has paved the way for the RMB stablecoin by passing the stablecoin bill.
The Hong Kong Legislative Council passed the "Stablecoin Ordinance Draft" on May 21, marking the official establishment of a licensing system for stablecoin issuers in Hong Kong. This move aims to improve the regulatory framework for virtual assets while promoting financial innovation and maintaining financial stability. The Hong Kong SAR government expects the ordinance to come into effect within this year.
The draft regulations clearly stipulate three types of activities that require a license: issuing fiat stablecoins in Hong Kong, issuing Hong Kong dollar stablecoins in Hong Kong or overseas, and actively promoting the issuance of fiat stablecoins to the public in Hong Kong. The draft imposes strict requirements on stablecoin issuers, including maintaining sufficient reserve assets, ensuring the redemption rights of stablecoin holders, and complying with anti-money laundering regulations.
To ensure the interests of the public and investors, the regulations stipulate that only designated licensed institutions may sell fiat stablecoins in Hong Kong. These institutions include those licensed by the Financial Commissioner.

RWA: Building a Global Financial World with a Public Ledger of Real Assets
The RWA (Real World Assets) sector has developed rapidly in recent times, with the market size surpassing $36.5 billion, a year-on-year growth of approximately 60%. The types of assets involved include private credit, US Treasury bonds, commodities, real estate, and stock securities, while the Hong Kong region focuses primarily on new energy assets.
Despite the many challenges still facing RWA development, such as compliance implementation and global liquidity issues, the involvement of traditional financial giants and active attempts by governments around the world make it possible for RWA to truly change the hollowing out and scaling dilemmas of blockchain finance. As a bridge between the traditional asset world and blockchain finance, RWA is addressing the shortcomings in value capture within the blockchain world.
Recent market dynamics show that traditional financial giants like BlackRock are actively exploring asset tokenization. Mantra Chain has obtained a VASP license in Dubai, and Stellar blockchain.

April 2024 Cryptocurrency Market Review
Market Overview
In April 2024, the cryptocurrency market experienced significant fluctuations. After reaching an all-time high in March, the price of Bitcoin underwent severe volatility, briefly falling below $66,000 at the beginning of the month, fluctuating between $60,000 and $73,000 throughout the month. This volatility was primarily influenced by macroeconomic factors and changes in market sentiment, highlighting Bitcoin's sensitivity to global economic trends.
The derivatives market indicates this adjustment, and the decline in the funding rate of Bitcoin perpetual contracts signals an impending correction. Changes in market sentiment make this adjustment seem inevitable, and a significant liquidation event occurred during non-U.S. trading hours.
Changes in U.S. interest rate expectations may be another factor influencing the shift in Bitcoin sentiment. This serves as a reminder that although Bitcoin is seen as a "store of value", it remains sensitive to macroeconomic changes.
The US Dollar Index DXY unexpectedly fell as well.

2024: A Key Year for Ethereum and ETHDenver?
In recent years, the blockchain and Web3 fields have made significant progress in scalability solutions, cross-chain interoperability, DeFi, NFTs, and ERC-404, among others. The Ethereum ecosystem, as one of the most mature ecosystems, has been a focal point of attention. The 2023 ETHDenver event attracted 30,000 attendees, setting a new record. This year's ETHDenver is expected to bring together over 20,000 community members to discuss innovative ideas and shape the future of blockchain technology.
ETHDenver, as a hub of innovation and creativity, promotes the integration of blockchain technology, culture, and education. In addition to showcasing technological advancements, ETHDenver also fosters a sense of community and collaboration among participants. This is an event not to be missed, rich in content and inspiring. On February 25,