1.HYPE price hits new highs again and again. A quick overview of the Hyperliquid ecosystem

HYPE rebounded nearly 4 times from its historical low, becoming the best performing asset among the top 100 tokens in the past month - an increase of more than 110%. Ecological data is even more impressive: Hyperliquid now accounts for 70% of the trading volume of DeFi perpetual contracts, with a total transaction volume of US$1.5 trillion, and the ecosystem TVL has soared to US$1.4 billion - an increase of more than 100% this month alone. Click to read

2. Strategy Full Analysis: Premium, Leverage and Capital Structure

Strategy (MSTR) accounts for nearly one-third of the total market value of the pure equity/cryptocurrency market and accounts for 10% of the Market Vector Global Digital Asset Stock Index (MVDAPP). Therefore, for investment managers who aim to turn the transformation of digital assets into excess returns, including them in their portfolios is a key consideration. Click to read

3. The power of the GENIUS Stablecoin Act is seriously underestimated

Recently, the U.S. Senate passed the procedural motion of the GENIUS Stablecoin Act, which quickly triggered extensive discussions in the market. Many scholars from traditional fields have sharply criticized the bill, even with obvious irony. They likened this move to "trying all kinds of medical treatments when sick" and predicted that this would drag the United States into a new economic dilemma. Overall, the scholars' doubts are mainly concentrated on two key points. Click to read

4. New order of stablecoins: the battle between market, technology and sovereignty

As the core component connecting traditional finance and the crypto asset ecosystem, the strategic position of stablecoins is constantly rising. From the earliest centralized custody model (USDT, USDC) to the stablecoins issued by the protocol itself and driven by on-chain synthesis and algorithmic mechanisms (such as Ethena's USDe), the market structure has undergone fundamental changes. Click to read

5. Can stablecoins save US debt?

On May 21, 2025, the Senate passed the procedural motion of the GENIUS Stablecoin Act by 69:31, entering the plenary debate and amendment stage. This is the first comprehensive federal regulatory bill for stablecoins in US history, marking a key step in stablecoin legislation. Interestingly, the launch of this stablecoin bill coincided with the poor demand for US debt and the continued rise in long-term interest rates. Some bond investors have high hopes for the bill, believing that the growth of the stablecoin scale will bring new demand for US debt, thereby easing US debt pressure. What is a stablecoin? What is its relationship with US debt? Can the stablecoin (bill) save US debt? In this article, we try to answer these questions. Click to read