advantages

According to CoinDesk, although the price of Bitcoin has fallen nearly 17% this month, the stock prices of several Bitcoin mining companies have risen against the trend, such as TeraWulf, which has increased by 31% this month, Cipher Mining by 8%; Hut 8 by 6%; and Core Scientific remaining basically flat.Analysts believe that Bitcoin mining companies are currently one of the targets with a high short-selling ratio among hedge funds. If the fundamentals improve, it may trigger a short covering rally. These companies have secured long-term and attractive power contracts, giving them a structural advantage on the energy cost side. Their strategic value goes beyond just Bitcoin mining, and capital is flowing towards "structural winners," while traditional mining companies may face the risk of being marginalized.

The Ethereum Foundation has announced the establishment of the Platform Team, aimed at building the most powerful Ethereum platform possible, enabling better support for users, applications, and all organizations built on Ethereum at both the L1 and L2 layers.Improving the relationship between L1 and L2 layers to create a mutually reinforcing system across various levels. The Foundation stated that since the introduction of the rollup-centric roadmap five years ago, a chain ecosystem has developed around the Ethereum L1 layer. The early rollup mindset has been replaced by differentiated L2 layer networks, each possessing unique and valuable economic systems, thereby extending Ethereum's core characteristics to millions of users.As Ethereum matures, the Foundation believes that more measures must be taken to build a unified platform that can fully leverage the unique advantages of the Ethereum system (L1 + L2). This includes enhancing the value proposition of L2, optimizing the adoption drivers for L2, enabling it to create value for Ethereum more broadly, guiding the ecosystem towards a more secure, permissionless architecture, and simplifying the process for users and institutions to adopt Ethereum.More importantly, building a strong Ethereum means driving technological improvements to reinforce and enhance Ethereum's core characteristics and unique advantages.

Guotai Junan Securities released a research report stating that HashKey HLDGS (03887.HK), as a leading licensed digital asset company in Hong Kong, is initiating coverage with a "Buy" rating and a target price of HKD 10.14.The core logic is based on three points: first, the company holds a full license from the Hong Kong Securities and Futures Commission (SFC) under categories 1/7/9, with a market share exceeding 75% and significant compliance barriers; second, institutional business accounts for 85.5%, with Omnibus client trading volume increasing nearly fivefold, and the proportion of institutional revenue is expected to rise significantly to 68% in H1 2025; third, the development of digital asset ETFs is driving institutional demand, and the company's integrated ecosystem (trading + on-chain services + asset management) creates a competitive advantage.In terms of finance, it is estimated that revenue will reach HKD 782 million, HKD 1.211 billion, and HKD 2.338 billion in 2025-2027, with net profit losses gradually narrowing (HKD -1.084 billion, -0.717 billion, -0.047 billion). Using the PS valuation method and referencing comparable companies like Coinbase, a 12x PS is applied, corresponding to a market value of HKD 28.1 billion.

Former Coinbase CTO and angel investor Balaji Srinivasan stated today that the signs of a fiat currency crisis are already emerging, and physical gold is susceptible to government seizure (as seen with Roosevelt's order in 1933), while digital gold like Bitcoin has greater resistance to seizure due to its invisibility and programmability.In the article, Balaji noted that the gold reserves of BRICS countries have surged since the 2008 financial crisis, indicating a shift in the East towards tangible assets, but the internet will replace the dollar-dominated Keynesianism with digital assets.Balaji concluded that for people in sovereign debt crisis countries like North America and Western Europe, gold may not necessarily be the best safe-haven asset, and Bitcoin is a hedge worth considering.

Metaplanet CEO Simon Gerovich stated on social media that the Bitcoin ETF is not a headwind for Metaplanet.Simon Gerovich mentioned that the Bitcoin ETF provides a fixed exposure to Bitcoin, and unless investors actively increase their investments, the amount of BTC they hold will not grow. As a business company capable of generating revenue and profit, Metaplanet's core strategy is to continuously increase its Bitcoin holdings and enhance its per-share Bitcoin exposure.He emphasized that ETFs represent static exposure, while Metaplanet offers an expansion of exposure based on business fundamentals. The roles of the two are different, and the existence of ETFs will not undermine Metaplanet's advantages.

According to official news, OKX has officially launched a new coin-margined contract grid feature. Users can utilize this feature to choose corresponding strategies based on different market expectations while obtaining multiple benefits: in bearish or sideways markets, users can use the coin-margined contract grid for holding hedges, earning funding rates and grid volatility profits, and automatically staking to earn coins for an additional 2%-7% annualized return; in bullish markets, they can also go long on mainstream cryptocurrencies, capturing price increases and grid arbitrage while achieving compound growth through the automatic coin-earning feature.Currently, users only need to upgrade the OKX APP to version 6.143.0 or above to experience this feature and enjoy OKX's exclusive advantages, including the lowest order fee rates for VIPs across the network, a globally exclusive automatic coin-earning feature, and support for ultra-dense grid designs of up to 500 grids, accurately capturing market micro-volatility opportunities.It is reported that the OKX coin-margined contract grid is an automated trading strategy based on contract trading, which automatically executes low buys and high sells within a preset price range to earn price difference profits from market fluctuations. All positions, margins, and profits and losses of this strategy are settled in the underlying cryptocurrency itself (such as BTC, ETH), allowing for the accumulation of more coin-margined assets in sideways markets.

ChainCatcher news shows that the issuance of public chains has a significant impact on the market performance of Binance Alpha tokens. Among them, the 211 tokens on the BSC chain (BNB Smart Chain) have an average increase of 101% since their launch, making it the best performer. In contrast, Solana chain tokens have an average increase of 37%, Ethereum chain tokens have 33.4%, and Base chain tokens have 26%.

ChainCatcher news, according to The Block, Bitwise Chief Investment Officer Matt Hougan pointed out in the latest client update that traditional financial supporters have failed to understand the advantages of Bitcoin, stablecoins, and the broader digital asset industry.He stated that the existing financial system suffers from inefficiencies and high costs, such as checking accounts offering only a 0.07% yield, savings accounts yielding 0.38%, and payment settlements taking several days.Hougan believes that blockchain technology can enable instant payments, near-zero fees, and real-time yield accumulation. He cited examples such as African businesses using stablecoins to circumvent inefficient banking systems and Stripe's acquisition of stablecoin company Bridge to illustrate how crypto assets are gradually being applied in areas where traditional systems are inefficient.He expects that as the regulatory environment improves and usability increases, most financial activities will eventually shift to crypto infrastructure.

ChainCatcher message, CICC pointed out in its research report that the popularity of stablecoins has limited impact on existing businesses like WeChat Pay. Domestic third-party payment essentially operates as a "quasi-stablecoin" mechanism anchored to the RMB, relying on legal reserves to ensure currency stability, and the domestic rates are as low as a few thousandths, far below the few percent of overseas platforms. Therefore, the necessity for independent blockchain stablecoins to gain popularity domestically is not high.In terms of technology and market, CICC believes that internet companies have advantages in the stablecoin field, including mature payment scenarios with hundreds of millions of users (such as cross-border e-commerce), strong technological research and development capabilities, and ecological synergy between B-end (supply chain) and C-end (retail payment), which can strengthen the network effect of stablecoins.However, the current efficient and low-cost mature third-party payment system poses challenges for independent blockchain stablecoins in the domestic market. In the future, internet companies may play a larger role in the promotion of stablecoin applications, but the overall market impact still needs to be observed.

ChainCatcher News, Li Yang, a member of the Chinese Academy of Social Sciences and chairman of the National Finance and Development Laboratory, stated that the U.S. push for stablecoin legislation aims to strengthen the dollar's position, promote payment modernization, and create new demand for U.S. Treasury bonds. Stablecoins are essentially an extension of the dollar on the blockchain.In the face of this trend, China should firmly promote the internationalization of the renminbi and align with the integration of stablecoins and traditional finance, fostering the complementary development of renminbi stablecoins and central bank digital currencies. Li Yang suggested fully leveraging Hong Kong's advantages to develop offshore renminbi stablecoins and build controllable international payment channels.

ChainCatcher news, Binance CEO Richard Teng posted on the X platform stating that visionary countries that adopt blockchain first will gain cheaper capital, attract cutting-edge technology investors, and build resilient digital infrastructure. Other countries will incur additional costs to catch up.

ChainCatcher news, Vitalik Buterin stated on social media that centralized sequencers actually have many advantages:Centralized sequencers can ensure that users' money won't be stolen through methods like frontrunning;Instant preconfirmations;It is very easy to turn a traditional application into a blockchain application, as the server directly becomes the sequencer.The decentralized characteristics of blockchain can mitigate the risks of centralized sequencers: the forced inclusion mechanism prevents sequencers from censoring users, and optimistic or zk proof mechanisms prevent sequencers from changing or violating the rules of the application (for example, suddenly inflating a token or NFT collection).However, centralized sequencers still carry risks, so we cannot rely entirely on centralized sequencers to solve problems. Having the ability for based rollups or direct transactions on L1 is also important. Therefore, I support the simultaneous promotion of both methods in the ecosystem, and then we can see which method is more suitable for which application.Maintaining the ability for ordinary users to make censorship-resistant transactions is certainly crucial.

ChainCatcher message, Zhao Changpeng posted on platform X: "Cryptocurrency has volatility. (Volatility has both advantages and disadvantages.)"