SunPump, as the first meme coin launch platform on the Tron network, has achieved a market capitalization of over 1.1 billion dollars in a short time, attracting widespread attention. In contrast, the established platform Pump.fun on the Solana chain continues to maintain its leading position in the market. Both have their distinct characteristics, and the competition is becoming increasingly fierce, jointly promoting the development of the meme coin market.

SharpLink Gaming's stock price fell nearly 70% in after-hours trading due to market misunderstandings following its filing with the SEC. Although executives clarified that the filing was a routine step, the market still harbors doubts about the company's future. The fluctuation in stock price exists alongside potential equity dilution risks, making future development full of uncertainty.

The article analyzes the relationship between Bitcoin prices and geopolitical conflicts over the past five years, focusing on the impact of the Russia-Ukraine conflict and the Middle East conflicts on the market. Although Bitcoin prices fluctuated dramatically in the early stages of the war, the market gradually showed stability and resilience with the participation of institutional investors. The capital flows and restoration of market confidence after the end of the war also laid the foundation for Bitcoin's future position in the financial system. Overall, crypto assets have demonstrated new value and potential in the face of conflict, signaling greater opportunities in the future.

Singapore and Hong Kong each have their advantages and challenges in the Web3 field. Singapore has an open policy and rich talent resources but faces scale limitations; Hong Kong has strong financial strength and close ties with the mainland, but high rents and education issues affect its competitiveness. The future development depends on how both places respond to external changes.

In the first two months of 2025, the U.S. economy and financial markets experienced turbulence, with new government policies intertwined with breakthroughs in AI technology, exacerbating market fluctuations. Despite GDP growth, non-farm employment and consumer confidence declined, facing challenges from inflation and slowing growth. The Crypto Assets market was also affected, but Bitcoin demonstrated resilience, with future prospects for integrating AI and encryption technology, nurturing new opportunities.

The change in the Speaker of the U.S. House of Representatives may have adverse effects on the encryption industry.
On October 3rd, the U.S. House of Representatives experienced a historic transformation. Current Speaker Kevin McCarthy was ousted, marking the first time in U.S. history that a sitting Speaker was removed through a vote. Subsequently, pro-encryption Republican Patrick McHenry temporarily assumed the role of Speaker.
This sudden event has raised many questions, including who will become the next official Speaker and whether the U.S. government can continue to operate after the temporary funding agreement expires on November 17. These unresolved issues could have a significant impact on the encryption industry.
In Washington, there are not many politicians who genuinely support encryption. Mike Henry, as one of the few lawmakers who hold a friendly attitude towards the encryption industry, has attracted significant attention for his stance. Last week, he threatened to address the issue between Gary Gensler, the chairman of the U.S. Securities and Exchange Commission, and the now-defunct encryption exchange FTX.

The Hong Kong Web3 Carnival was quiet, with a noticeable decrease in the number of exhibitors, reflecting the industry's cultural and developmental divergences. Although narratives like RWA are on the rise, user retention remains a key challenge. In the future, it is important to follow products and technology teams that meet demands, and the industry needs to approach expectations rationally and shift towards practicality.

The article emphasizes that the Web3 market should not blindly pursue "mass adoption," but should focus on increasing user engagement. The true "public" consists of specific "merchants" who understand how to leverage crypto assets for profit. The current market may be nearing its limit, and future growth relies on the participation of high-frequency users. Projects should focus on enabling users to profit, rather than catering to demand, promoting Depth participation and diversified investment to make the market more vibrant.