Encryption Weekly: Ethereum's New Chapter, Market Trends and Innovation Directions

Ethereum Ecosystem New Trends

The establishment of the Ethereum Community Fund ( ECF ) has released positive signals, indicating that the ecosystem still has the ability for self-renewal. From "world computer" to "world ledger", the positioning of Ethereum is evolving. Multiple favorable factors support bullish expectations for ETH, including network upgrades, the rise of reserve companies, and more. The upcoming Fusaka upgrade will enhance on-chain scalability, promoting Ethereum's transition to mainstream applications.

Market Insights

The structure of the crypto derivatives market is clearly differentiated, and investment sentiment towards altcoins is cautious. Key market variables in the second half of 2025 include macro policies, ETF flows, and risk appetite. Wall Street's focus on staking yields may change the game. An increase in the US debt ceiling could lead to a short-term rise in treasury supply. Bitcoin prices remain high, and there is potential for robust development in the second half of the year with multiple favorable factors.

Progress in the AI and Meme Tracks

Letsbonk surpasses Pump.fun to become the new dominant MEME launch platform. The breakthrough in multimodal video generation technology brings new opportunities to Web3. The rise of the AI agent economy has attracted attention with the Virtuals protocol. The ETHGlobal hackathon showcases innovations in areas such as AI, cross-chain, and privacy.

Industry Trends and Regulations

The US SEC commissioner clarifies that tokenized securities still fall under the category of securities, imposing compliance requirements on relevant market participants. A major stablecoin scam has caused significant losses, raising concerns. Payment giant Stripe may venture into the L1 space. The NFT industry seeks to cope with the winter through technology, AI, and regulations. GMX has suffered a hacker attack, with losses exceeding $40 million.

Project Focus

The Kuru development of a hybrid exchange model is noteworthy. The DPS game studio has gained substantial financing against the odds. The Phantom wallet has integrated perpetual contract functionality, seeking to break through in the competition. In the Solana ecosystem, Metaplex, Raydium, and Axiom have become invisible beneficiaries in the token issuance platform battle.

Industry News Overview

• Nvidia's market value surpasses the $4 trillion mark.
• Musk stated that American political parties will embrace Bitcoin.
• Truth Social plans to launch a crypto blue-chip ETF
• Grayscale adjustment of DeFi and smart contract fund components
• The Shanghai State-owned Assets Supervision and Administration Commission is paying attention to the development trends of encryption currencies and stablecoins.