1. Leviathan eroded by capital barnacles: deconstructing the decentralized

dilemma and the path to rebirth of Ethereum

The current market value of L2 tokens is US$15.2 billion, and the scale of ununlocked tokens reaches US$30 billion. From a liquidity perspective, it is equivalent to forming a 4% hidden inflation pressure on the Ethereum ecosystem. Moreover, the average decline of the related tokens at a high of nearly 50%, and the actual impact may be higher. These L2 tokens generally have nearly 60% tokens to be unlocked, that is, there is at least US$30 billion in funds that need to be taken over by Ethereum ecological investors. Click to read

2.Arthur Hayes: How is the most feasible Bitcoin strategic reserve in the

United States

I intend to discuss the key aspirations of many in the global crypto industry regarding the establishment of Bitcoin Strategic Reserves (BSR) and crypto regulation under the U.S. rule. Broadly speaking, many misguided crypto people want the U.S. government to print dollars and buy bitcoin as part of the state’s reserves and to develop regulatory moats for crypto businesses that have economic interests. I believe these people have asked wrongly. Let's do something difficult, ask the elves for something that the next government cannot easily revoke, regardless of the party's ownership. Click to read

3. ARK Big Ideas 2025 encryption part quick look: BTC is expected to reach

US$300,000 stablecoin scale will reach US$1.4 trillion

Catherine Wood, a famous Wall Street investor and its subsidiary ARK Invest have released the "Big Ideas" report at the beginning of each year since 2017, and have always attracted much attention from the market.

The Big Ideas report in the previous two years saw Golden Finance’s previous report “Big Ideas 2023 report quick look: The currency, finance and Internet revolution is at a turning point” and “Big Ideas 2024 report encryption section list: How institutional configuration will affect BTC” . On February 4, 2025, ARK Invest released the "Big Ideas 2025" report, with a total of 12 parts. Click to read

4. Demonstration of the market: See whether Berachain can become the end

of Defi

The end of DEFI is the beginning of the next Defi. The ending of most projects towards a dead end is only in line with the natural life cycle of the plate, achieving their respective main factors of collapse, and other projects undertake their liquidity. From the perspective of high -dimensional perspective, the entire Web3 industry is still "enduring", which shows that the relationship between the disk and disk built by the web3 ecology conforms to a healthy ecology. By observing various ecology, projects, and protocols with this logic, we can find that their life cycle will become shorter and shorter as the dimension is lower, which is a reasonable phenomenon. Therefore, the "replacement rate" of the plate represents the health of the project, and the project's "change rate" represents the health of the ecology. Next time, don’t say “no one takes over” hastily. You should take a closer look at every project’s reverse card, and abstractly decouple business logic, and no longer be fooled by those seemingly high-end concepts. Click to read

5. Why does DeFi benefit from the trade war?

Bitcoin (BTC) plunged over the weekend, falling below $100,000 as markets responded to the latest escalation in the U.S. trade dispute. The broader digital asset market is also following, leading to one of the worst selloffs since the Covid outbreak and the FTX crash. Specifically, President Donald Trump announced a new tariff of 25% on goods imported from Canada and Mexico and a new tariff of 10% on Chinese goods. Click to read