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On June 12, Mirror Tang, CEO of ZeroBase and Salus, reacted to an ongoing controversy over the decline and secret sale of the open-source project Alist. The comment followed a viral post by DIYgod, an AI open-source author of Folo and RSSHub. DIYgod expressed concern over the unhealthy dynamics in t

The article analyzes the current dynamics of the Web3 industry and the Crypto Assets market, including market fluctuations triggered by the US PPI data, a slight rise in the Decentralized Finance zone, discussions on financial regulatory reforms, and controversies surrounding the Chill Guy image. Additionally, the success of Travala in the Crypto Assets field and the emerging GWART project are also a focus. Overall, the market is filled with uncertainty regarding future policies and the application of encryption technology.

Q2 2025 Crypto Market Review: Total Market Capitalization Rebound, Circle's IPO Leads New Wave The crypto market experienced a rebound in the second quarter of 2025, with total market capitalization increasing by 24.0% to $3.5 trillion, nearly recovering all the ground lost since the beginning of the year. However, the situation behind this recovery is more complex. Despite Bitcoin once again breaking the $100,000 mark, spot trading volume has declined for the second consecutive quarter. A large amount of funds has flowed into Bitcoin, pushing its market capitalization to over 62%, while other encryption currencies struggle to regain momentum. Ethereum has performed relatively strongly but has still not returned to the levels seen at the beginning of the year. Trading behavior is undergoing a transformation. The spot and perpetual contract trading volume of decentralized exchange (DEX) has reached an all-time high, with certain DEX and Hyperliquid performing exceptionally well in their respective fields. As the trading volume of centralized exchange (CEX) declines, more and more traders are emerging.

Future Outlook After the Disappearance of Bitcoin Mining Rewards Around the year 2140, the Bitcoin network will face an important turning point. By then, all 21 million Bitcoins will have been mined, and no new Bitcoins will be created. This means that Bitcoin miners will only be able to earn rewards through transaction fees. This change has raised concerns about the long-term security of the Bitcoin network. Key Issues - After the year 2140, block subsidies will no longer exist. Miners will only rely on transaction fees paid by users to maintain the network. - The gradual reduction of mining rewards raises questions about the long-term security of Bitcoin, as these rewards are essentially the network's "security budget". - A reduction in the security budget may increase the risk of the network being subjected to a 51% attack or lead to a higher degree of centralization. - Optimists believe that the increase in Bitcoin's value and the future demand for blocks will make the model relying solely on transaction fees beneficial for miners.

Analyzing the relationship between the panic index and the direction of financial markets Recently, the global market has experienced severe fluctuations. A certain country's government announced a tariff of at least 10% on goods from most countries, and imposed even higher tariffs on about 60 countries with significant trade deficits. This decision has raised widespread concerns in the market, mainly due to the following reasons: - Rising corporate costs and declining profit expectations - Global supply chains are disrupted, increasing economic uncertainty. - May trigger retaliatory tariffs from other countries, expanding the scope of trade conflicts. In this environment, investors tend to: - Reduce high-risk asset allocation (such as stocks, cryptocurrencies) - Increase allocation to safe-haven assets (such as gold, US dollars, and Japanese yen) - Expectations for market volatility have risen, and the VIX index has soared. The chain reaction caused by the tariff increase includes rising costs, supply chain disruption, increased risk of retaliation, cautious investment, and capital flow to safe havens, ultimately triggering market panic.