The summer sunlight spills into the restaurant on the fifth floor of the China World Trade Center, and the exquisite environment showcases the essence of high-end consumption. Being in this space inevitably leads one to ponder: what creates the disparities between individuals? After entering society, where does our core competitiveness manifest? The answer may lie in the three words "aesthetic ability."
A carefully crafted brand image always inspires endless imagination and consumer desire. A close observation will reveal that even the text below the logo is meticulously designed, reflecting the brand's level of dedication.
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Aesthetics is an innate perceptual ability and an external manifestation of wealth and taste. Top luxury brands spend decades closely associating their logos with a noble and elegant image. Some brands create a sense of high-end luxury effortlessly in any city through unique display designs. Therefore, it is not surprising that some people are willing to spend seven figures to purchase an exquisite watch.

The report analyzes the differences between emerging trendy toy IP and traditional liquor in terms of social currency attributes, pointing out that the former is more aligned with the interests of younger groups, while the latter is influenced by power and hierarchy. Despite the emerging IP facing risks from IP cycles and market regulation, its globalization process is relatively fast, showing a trend of consumption-driven transformation. At the same time, analysts warn of the fragility of crowded trading in the capital market, indicating that future diversity in investment choices may require external economic data or market recovery.

The Ethereum 10th Anniversary Celebration will be held on July 30 in Shanghai. The event will review the achievements and challenges of the past decade, and discuss hot topics such as stablecoins and tokenization of physical assets. Those who cannot attend in person are welcome to participate by leaving a message, and witness this important moment together.

The Rise of RWA: The Global Trend of Asset Tokenization
The global asset tokenization is showing an accelerating development trend. According to data platforms, as of April 2025, the total value of on-chain RWA assets has surpassed $22 billion. Deloitte predicts that the tokenized real estate market will reach $4 trillion by 2035.
In this wave of financial innovation, Hong Kong, leveraging its unique institutional advantages, has quickly become a pioneer in the compliant development of RWA. From the tokenization project of charging pile assets by Langxin Group to the launch of Asia's first compliant tokenization fund by Huaxia Fund, several benchmark cases have successfully landed, validating the application potential of this innovative financing method in the field of real assets.
1. The Essence of RWA
RWA(Real World Assets) refers to the tokenization of real-world assets, an innovative financial model based on blockchain technology. It maps physical or financial assets onto the blockchain, converting them into high

Circle chose the timing that aligns with its growth strategy during its listing, despite the current net interest rate falling to 9.3%. Its core revenue comes from reserve income, forming high distribution costs through a revenue-sharing model with partners. Despite facing numerous risks and challenges, Circle has accumulated unique advantages in compliance and is expected to achieve growth through the scaling of USDC and innovative businesses in the future. The overall strategy is to shape it into a "digital dollar infrastructure operator."

This week's dynamics in the Web3 field include the maturation of the Bitcoin market, intensified competition among stablecoins, a surge in cryptocurrency companies going public, and the innovative integration of AI and encryption. The emerging track of Decentralized Finance (DeFi) is gaining attention, exchanges are actively expanding their business, and there are new regulatory proposals and progress regarding the digital renminbi.

The Hong Kong Monetary Authority recently released regulatory documents for stablecoins, providing guidance for the "Stablecoin Ordinance" that will take effect in 2025, covering aspects such as application, operation, asset management, and AML, to build a comprehensive regulatory framework. The first batch of licenses will be distributed in early 2026, with a limited number available, and applicants must meet multiple conditions. The regulatory measures aim to help the development of Hong Kong's stablecoin market, promoting a balance between financial innovation and risk prevention.

Sun Yuchen has transformed from a controversial figure to a leader in the encryption industry, appearing on the cover of Forbes in 2025 due to his contributions and influence in the Blockchain field, marking the mainstream recognition of encrypted assets. His business strategies and technological innovations have driven the reconstruction of the encryption industry's image and demonstrated deep cooperation with the political and business sectors.

The article analyzes the possibility of Ethereum breaking through 10,000 USD in 2025, using six valuation methods. The results show that, considering factors such as the ETH/BTC ratio, the impact of ETFs, and user activity, the expected price of ETH may be in the range of 6,000 to 8,000 USD, with extreme cases reaching 12,000 to 15,000 USD. However, price volatility is high, and investment should be approached with caution.

Over the past week, the Crypto Assets market performed positively, with Bitcoin ETF continuing to see inflows, and the price reaching a high of $107,000. Ethereum ETF also experienced net inflows, but the price fluctuation was relatively small. Popular Tokens performed strongly, with the Meme coin and AI agent zones attracting attention, while multiple projects are set to unlock Tokens. Investment should be cautious, and market risks should be noted.

The article discusses the importance of narrative economics in the crypto market, emphasizing the power of market sentiment and story-driven narratives that go beyond traditional economic indicators. Retail investors in the crypto market disseminate narratives through social media and online culture, allowing beliefs to dominate investment decisions. Successful investors should follow the development of emerging narratives and seize opportunities, as this strategy is especially critical in the highly volatile crypto market.

The TON-USDT Options will officially log in to mainstream trading platforms on May 21, 2025, marking the first time TON assets enter the market in the form of options. This innovation brings new financial application scenarios to the TON ecosystem, satisfying users' demand for diversified financial tools while promoting the development and standardization of encryption finance. The platform also plans to continue expanding derivatives trading to provide users with high-quality options.

Decentralization storage platform comparison and analysis
Overview of Existing Solutions
Arweave
Arweave is a decentralized platform focused on permanent data storage. It employs a unique "Blockweave" structure that achieves high redundancy by distributing copies of data across the network, thus preserving data for the long term. Users pay storage fees using AR tokens. Arweave is particularly suitable for content that requires long-term storage, such as archives and academic records. However, it lacks file version control features.

Ripple Labs' upcoming RLUSD stablecoin has received approval from the New York Department of Financial Services, marking a new transformation in its compliance and market competitiveness. This strategy not only enhances Ripple's position in the stablecoin ecosystem but also strengthens its integration with the TradFi system, aiming to address the market's demand for compliance and transparency. The launch of RLUSD represents a key step for Ripple towards stability and diversification, while also adding a new competitor to the stablecoin market, which is filled with both opportunities and challenges.

The probability of a Fed interest rate cut has risen to 93.6%, and the founder of Tornado Cash has been convicted of unlicensed remittance. The profit rate for short-term Bitcoin holders has declined, facing a resistance range. Ethereum ETF inflows are warming up, and multiple blockchain projects have completed financing. Market conditions are changing, with increased correlation to TradFi.

Last week, the global Blockchain industry saw a total of 13 financing events, with a total amount exceeding 137 million USD. The DeFi and Web3+AI sectors performed particularly well. Financing in the DeFi sector includes 12.7 million USD for a blockchain financial company and 10 million USD for the EduFi protocol, while the Web3+AI sector's Camp Network secured 25 million USD. There were also multiple financing events in areas such as infrastructure and tools, as well as CeFi, with venture capital institutions successfully raising 222 million USD.

In 2025, the U.S. government allowed 401(k) retirement plans to invest in encryption assets, marking a diversification and innovation in pension investments. This policy not only brings recognition to the crypto market but also raises concerns about risks, similar to the historical process of pensions transitioning from conservative to high-risk assets.