【Market Observation】 Recently, the celebrity effect in the crypto circle has significantly declined. The NYC token issued by the former New York City mayor experienced a rapid decline after its launch, and investors' enthusiasm has long since faded. It seems that a few well-known names and trending topics are no longer enough to support project expectations.

Interestingly, traditional financial channels have found new life within the Web3 ecosystem. A major exchange's wallet has launched a new BitWay financial product, with a $20 million quota sold out within 10 minutes. This level of popularity indicates that users' appetite for yield-generating products remains strong. Meanwhile, various staking certificates within the wallet (such as zkUSDT, bwUSDT, miBNB, etc.) have also been incorporated into the ecosystem's points system, forming a more complete incentive chain. This design logic is quite clear—allowing holders to receive value feedback at multiple stages, thereby increasing ecosystem stickiness.