Topics of Crypto World

a16z analyzes the growth logic of Web3 projects, pointing out that traditional Web2 metrics are difficult to apply, and proposes a framework for measuring users, transactions, community, and ecosystem that is suitable for the crypto space.

Southeast Asia Non-USD Stablecoin Market Report Q2 2025: XSGD Dominates, Political and Regulatory Diversity, DEX Trading Volume Plummets, But Active Addresses and User Engagement Rise Steadily, Revealing the Potential and Challenges of Local Stablecoins in Cross-Border Payments and Financial Inclusion.

Gate Research Weekly Report: This week, the crypto market remained in a moderately bullish consolidation, with both BTC and ETH posting modest gains. DeFi Development added another 60,000 SOL to its holdings, bringing its total to over 2 million SOL. Benefiting from multiple treasury initiatives, Solana has risen more than 10% over the past 7 days. The Altcoin Season Index climbed to 73, indicating a significant uptick in altcoin market momentum. Meanwhile, Forward Industries completed a $1.65 billion funding round to establish a SOL-centric treasury reserve strategy.

Gate Research Daily Report: On September 18, the crypto market continued its mildly bullish consolidation, with both BTC and ETH posting modest gains as capital rotation remained structurally driven. Orderly launched a multi-collateral feature, enabling the use of SOL and USDT as margin assets. Solana treasury firm DeFi Development further increased its holdings by 60,000 SOL, bringing its total to over 2 million SOL—demonstrating continued confidence in the ecosystem. Wormhole unveiled W Token 2.0, introducing a reserve mechanism and biweekly unlocks to enhance value anchoring and release transparency. EIGEN, KMNO, and DRIFT surged 24.4%, 23.2%, and 17.1%, respectively, driven by strategic partnerships, capital growth, and fee reductions.

Southeast Asia Non-USD Stablecoin Market Report Q2 2025: XSGD Dominates, Political and Regulatory Diversity, DEX Trading Volume Plummets, But Active Addresses and User Engagement Rise Steadily, Revealing the Potential and Challenges of Local Stablecoins in Cross-Border Payments and Financial Inclusion.

In 2025, the total market capitalization of stablecoins reached $280 billion. Driven by the GENIUS Act, reserve models are converging, shifting the competition focus toward distribution capabilities and ecosystem control. USDT and USDC remain dominant, but USDe is rising rapidly, while the emergence of application-specific chains and dedicated stablecoins is reshaping the industry landscape.

This article uses on-chain data analysis and cross-chain comparisons to explore how Binance and its Alpha platform accelerate user adoption and trading volume growth. It also analyzes the emergence of innovative sectors, including Meme Coins, RWA (Real World Assets), and AI.

The article offers a comprehensive overview of the mUSD issuer, the technical support team, and its distinctive three-party collaboration model. It also explores mUSD’s market positioning, use cases, and reserve mechanism in depth.

The article explores how shifts in regulatory attitudes benefit entrepreneurs and investors. It also examines key issues, such as the clarification of developers’ legal responsibilities and the specification of regulations for staking and mining activities.

The article not only introduces the latest developments of Base, but also provides an in-depth analysis of the background and potential impact of its token issuance, as well as Base’s strategic considerations regarding decentralization and ecosystem expansion.

Gate Research Daily Report: On September 19, the crypto market saw BTC and ETH trading in a tight range with cautious optimism and a neutral Fear & Greed Index. MetaMask token launch expectations accelerate, Plasma blockchain plans TGE on September 25, and NBA star Tristan Thompson introduces a player tokenization platform. Tokens like RUNWAGO, DUCK, and APX show strong short-term activity, with macro and project updates analyzed in detail.

Gate Research Daily Report: On September 19, Bitcoin held steady at $117,430 with a bullish consolidation, while ETH traded at $4,610 in a narrow range. Most altcoins gained, with RUNWAGO surging 853% in 24h, and DUCK and APX up 115% and 23.6% respectively. On the macro side, U.S. equities remained stable with active market liquidity. In industry news, MetaMask token launch accelerates, NBA star Tristan Thompson launched a player tokenization platform, and Plasma confirmed its TGE on September 25, intensifying competition in the stablecoin sector.

From September 2 to September 15, 2025, the crypto market continued its sector rotation pattern, with BTC and ETH testing key resistance levels at 117,400 and 4,950 USDT, respectively. MYX and CONSCIOUS each surged over 900%, while OPENX and ATH also posted gains above 90%, highlighting strong volume-price correlation and a clear capital shift toward mid- and small-cap narrative-driven tokens. Recently, a series of airdrop campaigns have been launched across trending sectors such as AI, DePIN, and SocialFi. This article outlines key participation methods to help users capture potential upside and airdrop opportunities during the rebound.

This report highlights that as of August 2025, the global stablecoin market capitalization has reached $280 billion, with annual on-chain settlement volumes surpassing $30 trillion. Stablecoins are evolving from mere crypto trading instruments into global financial infrastructure. This explosive growth is driven by regulatory implementation and the entry of major enterprises. The enactment of the GENIUS Act, the Stablecoin Bill, and the MiCA Regulation mark the beginning of a “compliance grand era” for stablecoins. Their model has advanced into a “Peg + Yield + Application” triad, expanding across payments, yield generation, and real-world applications. At the same time, competition has shifted from “token battles” to “infrastructure battles,” with players such as Tether, Circle, Stripe, and Alchemy Pay building proprietary blockchains to capture dominance in payments and settlements.

This article offers a comprehensive examination of Hyperliquid's Event Perpetuals proposal—a novel trading product aimed at incorporating binary prediction market capabilities into its perpetual contracts platform.