"Weekly Editor's Picks" is a functional column on Odaily Planet Daily. Besides covering a large amount of real-time news each week, Planet Daily also publishes many high-quality in-depth analyses, but these may be hidden in the information flow and hot news, and you may miss them.
Therefore, every Saturday, our editorial department will select some high-quality articles that are worth spending time reading and collecting from the content published in the past 7 days. From the perspectives of data analysis, industry judgment, and opinion output, they will bring new inspiration to you in the crypto world.
Now, come and read with us:
Investment and Entrepreneurship
Crypto investment, betting on fundamentals or capital flow?
Neither approach is inherently right or wrong. The key for investors is whether they can systematically generate confident forecasts. More confident forecasts reduce volatility and downside risk; forecasts that are more confident than the market consensus can help you achieve excess returns.
These two approaches are not mutually exclusive. You can invest based on both fundamentals and fund flows. In fact, the investments that offer the best risk-adjusted returns often combine both.
Historically, as a crypto investor, it pays to be primarily oriented towards fund flows.
BTC's Death Domino: When Treasury Companies Go From "Diamond Hands" to Selling Vanguards
Over the past few months, BTC treasury companies have been seen as key drivers of the crypto market and a strong foundation supporting Bitcoin prices. However, this support may be far less robust than imagined. When price volatility and shareholder pressure combine, even treasury companies can instantly shift from being "guardians" to "sellers."
Once some companies choose to sell BTC to repurchase stocks, it will trigger a reflexive cycle: price drops → mNAV is under pressure → more companies are forced to sell → selling intensifies → prices fall further.
A look at 5 of the biggest Asian "Strategy" listed company leaders
Next Technology Holding Group, Cango, Boyaa Interactive, Nano Labs, and DDC.
Grayscale's vision for 2025 is to deepen its presence in AI, the Sui ecosystem, and meme culture. Its trust products are no longer simply a "barometer" for the hottest projects in the market, but are also beginning to transform into a "reservoir" for tapping potential.
Although the "Grayscale effect" no longer exists, the targets selected for the Grayscale Crypto Trust as "Grayscale Preferred" seem to still play a role.
CeFi outstanding loans were $17.78 billion, up 14.66% month-over-month ($2.27 billion).
Outstanding USD-denominated loans in DeFi applications rebounded strongly from the first quarter, increasing by $7.84 billion (+42.11%) to $26.47 billion, a new all-time high.
Digital Asset Reserve Companies (DATCOs) remained a core theme in the second quarter. The rise of Ethereum reserve companies became a notable trend within the DATCO space between March and June, despite the fact that such entities were less common in the early months of the year. Because Bitcoin DATCOs did not issue new debt, the outstanding debt balance of DATCOs, which track data, remained unchanged. Nevertheless, June 2028 remains a month to watch, with $3.65 billion in outstanding debt maturing.
Open interest in futures contracts, including perpetual futures, surged in the second quarter, reaching $132.6 billion across major platforms as of June 30.
BTC and ETH devour liquidity, while altcoins use buybacks to build an anti-siphoning turret
Sequel to " From Growth Illusion to Cash Flow Reality: When Buybacks Become the Collective Narrative of Altcoins ".
Although market sentiment seems to have shifted from depression to excitement, the narrative dilemma of altcoins remains. How to break through the craze through repurchases tests the strategic vision of the project parties.
The article uses LINK, ENA, BB, IP, PUMP, LISTA, and BONK as examples to review the short-term results of different repurchase strategies.
The market effectiveness of buybacks is built on execution, transparency, and funding sustainability. For investors, the key isn't just seeing the word "buyback," but asking three questions: Where does the funding come from? How long will it last? And does it truly reduce circulating supply? The answers to these three questions determine whether the buyback program serves as a foundation for price support or a short-term narrative. Only when funding sources are secure, execution is transparent, and supply is truly shrinking can buybacks become a long-term tool for navigating sentiment cycles.
Also recommended: " Arthur Hayes' latest 10,000-word interview: Autumn correction, ETH sees $10,000-20,000 in the long term " " Futu, fired the first shot of Hong Kong brokerage's "encryption transformation" " " Up 200% on the first day, down 50% in a week: the ice and fire of Bullish IPO ."
Policy and Stablecoins
According to the U.S. SEC's statement on security tokenization released on July 9, 2025, tokenized securities are still securities, and market participants must consider and comply with federal securities laws when conducting these transactions. This means that although there are still some unclear areas in the U.S. regulation of U.S. stock token trading platforms.
However, from the perspective of business similarity, referring to the compliance requirements of traditional securities firms can provide great guidance for US stock token trading platforms.
In actual business scenarios, the licensing requirements for US stock token trading platforms vary depending on whether they provide services to US users, whether they match/make market transactions, whether they provide fiat currency deposits and withdrawals, and whether they personally hold/custody actual shares.
These requirements include FinCEN MSB (Money Services Business) registration (mandatory); ATS (Alternative Trading System) license (ambiguous); FINRA/SIPC membership (recommended); transfer agent registration (optional); and CFTC (Commodity Futures Trading Commission) registration (required for derivatives businesses). Furthermore, if you don't provide services to US users, compliance is halved.
Hong Kong's cryptocurrency world: rift, confrontation, and integration
In the same Hong Kong and the same cryptocurrency ecosystem, some people feel the excitement and opportunities brought by the industry's economic upturn; others feel the fatigue and loss brought about by institutional and cultural friction.
Almost all mainstream Hong Kong securities firms have already entered the cryptocurrency business; on the other hand, some Crypto Natives who have joined compliant companies are experiencing a deep disillusionment.
cap, USD.AI, Level, OpenEden, Falcon Finance, Perena, Noble, Resolv,
Airdrop Opportunities and Interaction Guide
How does Cap build a self-sustaining stablecoin? (Interactive tutorial included)
Irys, the programmable data link, raises another $10 million. Participation Guide
Bitcoin Ecosystem
From Store of Value to Capital Operation: The Next Cycle of BTC On-Chain Finance
Bitcoin lacks composability, profitability, and multi-chain liquidity. Most BTC holders either hold onto their assets for the long term or rely on centralized platforms for limited interest, missing out on the vibrant on-chain financial landscape.
More and more projects are trying to innovate in different directions: multi-chain expansion and interoperability, growth of low-risk return products, increased institutional and compliance participation, and testing grounds for innovative strategies.
Ethereum and Scaling
He spent billions to buy Ethereum and said 4000 is the bottom.
The rise of Tom Lee of BitMine, a new market maker in Ethereum.
Ethereum unstaking scale hits new high, what is the risk of selling pressure?
While the market hasn't yet seen systemic liquidations due to price decoupling, potential pressure is further driving investors to exit early. The large-scale withdrawal of ETH staking is also related to a shift in funds to new staking protocols. As the majority of Ethereum investors shift from retail to institutional investors, the landscape of the staking market is undergoing significant changes. Institutional investors are driven by multiple requirements for compliance and stability, such as the need for clear legal entities and compliance processes, which decentralized protocols struggle to meet.
The demand for profit-taking brought about by price increases is also one of the driving factors behind the increase in the scale of ETH pledge release.
However, there is no need to worry too much. The overall confidence in Ethereum has not been shaken, especially the continuity of institutional funds has further enhanced the market resilience.
ETH is about to reach a new high. Which "Ethereum" Alpha projects are worth paying attention to?
BMNR, Ethena, Pendle, Uniswap, Fluid, Lido, Aave, Curve, SKY, Spark, Chainlink, Pengu.
Also recommended: " ETHGlobal NYC Hackathon Concludes: Summary of the Top Ten Winning Projects ".
Multi-ecology and cross-chain
Who Will Carry the Solana Flag? A Look at the Candidates for Solana's "Tom Lee"
Anthony Scaramucci (best candidate), one of Wall Street's most determined Solana Maxi, Michael Edward Novogratz, a representative of crypto investment from Wall Street, Kyle Samani of Multicoin Capital, Silicon Valley venture capitalist Chamath Palihapitiya, Canadian businessman Kevin O'Leary, and Joe McCann, founder of crypto hedge fund Asymmetric.
After OKB hit a record high, how can you participate in this X Layer meme trend?
X Layer Meme Tools.
DeFi & CeFi
The data doesn’t lie: Why is Pendle the hidden gem of DeFi?
Pendle is quietly generating $43.68 million in annual revenue at a fully diluted valuation (FDV) of $1.53 billion.
Ironically, the public chains with valuations three to five times higher than Pendle have far less actual business volume.
This article teaches you how to use Pendle's new killer weapon Boros
Trading, hedging, arbitrage: a complete analysis of Boros application scenarios.
Also recommended: " Chainlink In-depth Research Report: From Oracle to On-chain Financial Infrastructure, LINK's Flywheel Mechanism and Future Path ".
Weekly Hot Topics Cramming
Over the past week, ETH briefly fell below $4,100 ( predicting future market performance ); OKB repeatedly broke all-time highs; X Layer launched its testnet , with OKB serving as the native gas token; BNB hit a new all-time high; and Kanye West released the meme coin YZY .
In addition, regarding policy and macro-markets, Trump is considering firing Fed Governor Tim Cook on pretext; the Fed is studying the application of tokenization and artificial intelligence in the payment field ; Wyoming launched the Frontier stablecoin FRNT , becoming the first state-level region in the United States to issue a stablecoin; Japan will approve the first yen-denominated stablecoin JPYC , which will be listed on Ethereum, Avalanche and Polygon ; Japanese media: The stablecoin JPYC will be issued on a scale of 1 trillion yen in three years and is intended to be used for corporate payments and DeFi asset management; the Shanghai Composite Index hit a 10-year high ; Caixin: The Hong Kong Monetary Authority encourages new energy and aviation trade RWA cases , but does not support real estate projects; Thailand will launch a cryptocurrency exchange program to facilitate payments for foreign tourists;
In terms of opinions and voices, the founder of WhaleWire stated: Excessive leverage in the crypto market could trigger a major crash ; Andrew Kang stated: ETH could face $5 billion in liquidations, pushing the price down to $3,200-3,600 ; Tom Lee stated: A historic opportunity is unfolding within the Ethereum ecosystem , and the future will witness an unprecedented wave of innovation; Canary Capital CEO stated: Bitcoin could reach $150,000 this year, while Ethereum's upward trend will be difficult to sustain ; Santiment stated: Retail investor sentiment has turned extremely bearish, which could signal a market reversal ; Toly stated: The crypto market should not fall into the logical trap of believing that "special assets + returns" are superior ; UBS stated: The trillion-dollar market demand for stablecoins may not be real ; Goldman Sachs stated: We are more optimistic about Robinhood than Circle, and it is too early to predict stablecoins disrupting traditional finance; Ondo executives stated: The infrastructure necessary for tokenization to succeed is already in place ; The ETF Store president stated: Treasury company shares should be viewed as derivatives of BTC and ETH ; The Rollup founder stated: I have heard that several large SOL treasury companies will be launched in September , and fundraising is expected to be completed within 1-2 weeks;
In terms of institutions, large companies and leading projects, Bullish received $1.15 billion in funds from its IPO in the form of stablecoins; Grayscale submitted the S-1 document for the DOGE ETF ; Strategy's stock price fell to a new low in nearly four months , and Saylor said that the restrictions on additional issuances would be relaxed; WINT, the US-listed BNB treasury company, was delisted from Nasdaq due to violations ( interpretation ); CMB International Securities officially began to provide virtual asset trading services; Coinbase updated its derivatives rules and will provide a gradient subsidy for USDC used as contract collateral, with the maximum annual subsidy reaching 12% ( interpretation of the industry trend of "breaking the transaction and interest-bearing wall"); Faraday Future launched the first C10 Treasury plan in the US stock market and released the C10 index; MetaMask launched the mUSD stablecoin , backed by cash and short-term US bonds; the LayerZero Foundation's proposal to acquire Stargate has begun voting, with a support rate of 97.07%; Wormhole plans to acquire Stargate at a high price and requests a suspension of the "LayerZero acquisition of STG" vote ( interpretation ); the gold token XAUm Log in to Sui , the Sui Foundation has included XAUm in its strategic reserves; Somnia has opened airdrop eligibility inquiries ( poor community reviews ); Mitosis announced its token economic model , with a 10% genesis airdrop; Boundless announced its token economic model , with a 6% allocation from community sales and airdrops; Mitosis launched an airdrop inquiry ; Sapien launched an airdrop claim ; Hemi announced its token economics : a total of 10 billion tokens, with the community and ecosystem accounting for 32%;
In terms of data, Bitcoin and Ethereum spot ETFs set a record for weekly trading volume ; the scale of tokenized assets under management reached an all-time high of US$270 billion; Hyperliquid became the company with the highest per capita revenue in the world ;
On the security front, more than 370,000 chat records from Musk's Grok were leaked ; the founder of OneKey stated that a 0-day vulnerability has appeared in Apple devices , and users are advised to upgrade their device systems to the latest version as soon as possible; the founder of ODIN•FUN stated that part of the hacker's funds have been frozen , and an audit and repair are being carried out... Well, it's been another week of ups and downs.
Attached is a portal to the "Weekly Editor's Picks" series.
See you next time~
- 核心观点：加密投资需结合基本面与资金流分析。
- 关键要素：
- 灰度信托转向发掘潜力项目。
- 链上借贷创264亿美元新高。
- 山寨币回购需关注资金可持续性。
- 市场影响：推动机构合规与创新策略发展。
- 时效性标注：中期影响。
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