1. HYPE Price Reaches New Highs: A Comprehensive Overview of Hyperliquid Ecosystem

HYPE has rebounded nearly 4 times from its historical low point, becoming the best-performing asset among the top 100 tokens in the past month with a surge of over 110%. The ecosystem data is even more impressive: Hyperliquid now accounts for 70% of DeFi perpetual contract trading volume, with total trading volume reaching $1.5 trillion, and the ecosystem's TVL has skyrocketed to $1.4 billion - growing by over 100% this month alone.Click to Read

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

Strategy (MSTR) occupies nearly one-third of the pure equity/cryptocurrency market capitalization and represents 10% of the Market Vector Global Digital Asset Stock Index (MVDAPP). Therefore, for investment managers aiming to transform digital assets into excess returns, incorporating it into the portfolio is a key consideration.Click to Read

3. The Power of the 'GENIUS Stablecoin Act' is Severely Underestimated

Recently, the U.S. Senate passed a procedural motion for the GENIUS Stablecoin Act, quickly sparking widespread discussion in the market. Many scholars from traditional fields have raised sharp criticisms of this bill, even with obvious sarcasm. They compare this move to "desperate measures" and predict it will drag the United States into a new economic predicament. Overall, scholars' doubts are mainly focused on two key points.Click to Read

4. New Stablecoin Order: Conflict of Markets, Technology, and Sovereignty

As a core component connecting traditional finance and the crypto asset ecosystem, stablecoins' strategic position is continuously rising. From the earliest centralized custody model (USDT, USDC) to today's protocol-issued stablecoins driven by on-chain synthesis and algorithmic mechanisms (such as Ethena's USDe), the market structure has fundamentally changed.Click to Read

5. Can Stablecoins Save U.S. Treasury Bonds?

On May 21, 2025, the Senate passed the procedural motion for the GENIUS Stablecoin Act with a vote of 69:31, entering the stage of full debate and amendment. This is the first comprehensive federal regulatory law for stablecoins in U.S. history, marking a crucial step in stablecoin legislation. Interestingly, the timing of this stablecoin bill coincides with weak U.S. bond demand and continuously rising long-term interest rates. Some bond investors have high hopes for this act, believing that the growth of stablecoin scale will bring new U.S. bond demand, thereby alleviating U.S. debt pressure. What are stablecoins? What is their relationship with U.S. Treasury bonds? Can stablecoins (or the bill) save U.S. Treasury bonds? This article attempts to answer these questions.Click to Read