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Recent market news shows that the Crypto Assets sector is undergoing various changes and challenges. On the U.S. government side, a new round of tariffs imposed on multiple countries has been basically determined, while senior officials are actively seeking candidates for the next Fed chair. These actions could have a profound impact on the global financial markets.
In terms of domestic blockchain development, insiders have pointed out that our country currently does not have a public chain system with significant global influence. Therefore, it is recommended that the central government and state-owned enterprises lead the construction of a national-level public chain to enhance our country's international competitiveness in this field.
In terms of financial regulation in Hong Kong, it is reported that JD.com and Ant Group may find it difficult to be among the first batch of companies to obtain stablecoin licenses, which reflects the cautious attitude of regulators towards the issuance of stablecoins.
This week, the crypto assets market will see a large-scale unlocking of multiple tokens, including ENA, IMX, and MOVE. In particular, for ENA, the unlocking of tokens is expected to be worth about $95.8 million, which may cause some fluctuations in the market.
As the market gradually warms up, some small-cap Crypto Assets have rebounded first, with ENA increasing by 17% within 24 hours. At the same time, influenced by Tesla CEO Musk, Meme coins related to the Grok humanoid companion concept have also risen across the board.
The S&P 500 index has remained above the 20-day moving average for 68 consecutive days, a phenomenon that suggests the market may soon face larger fluctuations.
Michael Saylor, the founder of MicroStrategy, has insightful views on Bitcoin. He believes that in the short term, Bitcoin can be seen as a trading asset; whereas from a long-term perspective, Bitcoin is more like a treasury asset.
Overall, the Crypto Assets market is in a critical period filled with opportunities and challenges. Investors need to closely monitor policy changes and market trends to make informed investment decisions.