Web3 Industry Weekly Update

Ethereum 10th Anniversary Review

The Ethereum mainnet has been online for ten years. Looking back at the development process over the past decade, we see that from the initial founding team to the current decentralized community, there are a group of idealistic and talented key figures driving this forward.

Ten years ago, Ethereum ignited the imagination of decentralization with a white paper. A decade later, it remains at the core of the crypto world, but it is no longer the only stage. What truly drives Ethereum towards billions of users is not just its technological capabilities, but more importantly, what the real world chooses to use it for.

Looking to the future, the Ethereum Foundation has proposed the concept of "Streamlining Ethereum," hoping to pursue extreme performance while adhering to the bottom line of security and decentralization. This will define the development direction of Ethereum for the next decade.

New Stablecoin Policy in Hong Kong

The Hong Kong Monetary Authority recently released a series of supporting regulatory documents for the "Stablecoin Regulations", providing a clear application path and compliance standards for the stablecoin market. The first batch of licenses is expected to be issued early next year, and holders need to complete identity verification.

These policies demonstrate Hong Kong's attitude of creating policy space for stablecoin innovation while strengthening risk prevention. Since the stablecoin draft was passed, enthusiasm for stablecoins in the Hong Kong stock market has reached an unprecedented high. Some believe that Hong Kong is expected to become the Web3 hub of the Asia-Pacific region.

New Trends in U.S. Crypto Regulation

The chairman of the U.S. SEC recently delivered a speech outlining a vision for fully putting financial markets on the blockchain and creating a global crypto hub. The White House also released a digital asset report referred to as the "regulatory bible" for cryptocurrencies, establishing a framework for future crypto regulation.

In addition, the U.S. SEC has officially approved the physical subscription and redemption mechanism for cryptocurrency ETFs, significantly enhancing trading efficiency and market liquidity. The general cryptocurrency ETP listing standards are on the horizon, which will open a fast track for cryptocurrency assets to enter the ETF market.

The Integration of AI and Cryptocurrency

The integration of AI and cryptocurrency is accelerating. The commercialization "gas station" xTAO Technologies of the Bittensor ecosystem has been listed in Canada. The prediction market platform Kalshi has introduced the AI model Grok, which is expected to bring a trading revolution.

The financing model in the Web3 AI field is also rapidly evolving, shifting from fair launch models to attention capital market models. Some projects, such as Spheron, adopt a "revenue-based token issuance" strategy, setting a new benchmark for the AI infrastructure track.

Market Dynamics

Recently, leading NFT projects have seen monthly growth rates reaching hundreds of times, and the BRC 2.0 upgrade is expected to ignite a new wave of enthusiasm in the Bitcoin ecosystem. The stablecoin newcomer USDe has rapidly risen to the top three.

Overall, in August, the cryptocurrency industry will continue to witness a situation where policies, projects, and regulations run parallel. The market has entered a deep water zone, with both opportunities and divergences following the recent highs. Experts recommend maintaining a defensive attitude towards the August market, closely monitoring policy changes and the movements of leading projects.