Switzerland's second quarter GDP year-on-year

Take a close look at this picture #PI#. Besides you suckers going long, all of us Large Investors are shorting. Why should it rise for me?

#PI# is unlocked in large amounts every day, scaring off all larger funds.

Recently, the crypto assets world has once again stirred up a wave of excitement, with Tom Lee as the focal point. As the chairman of the Bitmine board, Lee has been frequently expressing his optimistic views on Ethereum on social media, even predicting its price will reach $8,000, or even $20,000. This optimistic prediction inevitably brings to mind Sam Bankman-Fried (SBF)'s previous enthusiastic endorsement of Solana (SOL). However, history seems to be repeating itself. SBF once bought a large amount of Grayscale's GBTC and pledged it to Genesis, while frantically buying SOL and LUNA. Unfortunately, the good times did not last long, as the collapse of LUNA and the bankruptcy of FTX caused the price of SOL to plummet, turning former glory into a mirage. Looking back at the early development stage of Crypto Assets, the term 'consensus' was frequently mentioned, and people believed that as long as they held a certain coin, they could achieve financial freedom. At that time, a 50-fold increase within a week was not uncommon, leading many to firmly believe in the saying 'a day in the coin circle is equivalent to ten years in the human world.' However, this optimism is often driven by interests. Whether it's MicroStrategy or Tom Lee, it's hard to avoid a positive attitude toward the crypto assets they hold. This behavior pattern still exists in the current market, but the frequency of the term 'consensus' has decreased. It is worth noting that the performance of BMNR (the stock code for Bitmine) has also been unsatisfactory, with its stock price having fallen several times. This once again reminds us that the capital market is always profit-driven, and there are no windfall profits without reason. Since 2022, the vast majority of tokens newly listed on Binance have failed to return to their initial closing price, a phenomenon that investors should be wary of. In this rapidly changing market, rational thinking and cautious decision-making are more important than blindly following others' predictions. The development history of the crypto assets market tells us that the statements of industry celebrities like SBF or Tom Lee should be viewed objectively. Investors need to form their own judgments rather than blindly follow so-called market leaders. In this field full of opportunities and risks, it is crucial to remain clear-headed and think independently.

Recently, the crypto assets market has shown some positive signals. Although Bitcoin (BTC) is still in a wait-and-see stance, Ethereum (ETH) has performed relatively well. Notably, the Solana (SOL) ecosystem is gradually revealing the wealth effect, becoming a highlight in this round of market trends. In terms of technological development, the Ethereum Foundation has launched a new protocol update aimed at optimizing user experience. At the same time, there are significant movements in the stablecoin market, with Tether issuing an additional 1 billion USDT on the Ethereum network, indicating that market liquidity may be increasing. The former president of the Hong Kong Monetary Authority, Norman Chan, stated that Hong Kong is actively building an international digital asset center, and the integration of capital markets with digital assets is expected to bring new development momentum. This initiative could inject new vitality into the crypto assets industry in the Asia region. In terms of corporate dynamics, Hyperscale Data plans to raise $125 million by selling common stock to purchase Bitcoin and Ripple (XRP). This move reflects institutional interest in Crypto Assets. However, security issues remain a significant challenge facing the industry. Recently, a hacker continuously transferred over $300 million worth of Ether stolen from Coinbase through TornadoCash, highlighting the importance of Crypto Assets security. In terms of regulation and compliance, the Bitcoin mining company IREN has reached a settlement agreement of $20 million with NYDIG, while Tether has canceled its plan to freeze USDT on five blockchains, including EOS. These actions may have a certain impact on the market. Overall, despite the ongoing volatility and uncertainty in the market, developments in various aspects seem to be injecting new vitality and opportunities into the Crypto Assets industry.