The first crypto president of the United States has taken office. What does it mean for the Chinese currency circle?

_ Host: Arain, ChainCatcher_

Organized by: Scof, ChainCatcher

On January 20, seven Chinese-speaking crypto KOLs, investors, and project developers discussed the possible consequences of Trump as the first “crypto-president” in the U.S. focusing on the theme of “What does the taking office of the first U.S. crypto president mean to the Chinese currency circle?” market impact, especially on the Chinese currency circle.

The following content is a summary of the relevant conversations. You can also click here to listen to the entire content .

ChainCatcher: I am very happy that we can witness the inauguration of the new US President Trump. As the first "encrypted president" of the United States, Trump officially took office today. Judging from the market conditions in recent days, BTC has not bottomed out as investors were worried. Trump has made many encryption promises. Which ones do you think are most likely to be fulfilled? What will happen next?

Lucio ( BT X capital ): Hello everyone, I am Lucio, the head of operations of BTX capital. In response to the first question, Trump has made many promises to the crypto market, including making the United States the global capital of cryptocurrency, cutting regulations, supporting the growth of domestic energy production, firing SEC Chairman Gary, and preventing the United States from selling its Bitcoin holdings. And establish a Bitcoin strategic reserve, stop suppressing the cryptocurrency industry, promote the flourishing development of the industry, use cryptocurrency to resolve U.S. debt, reduce the sentence of the founder of the "Silk Road" and appoint a pro-cryptocurrency official as the new SEC chairman.

Of these promises, I think the more reliable ones are to create a global cryptocurrency capital and support the growth of energy production. At present, the United States is relatively supportive of the underlying mining business of cryptocurrency, especially in Texas, which has a large number of compliant mining farms and listed mining companies. These mines can not only provide blockchain computing power, but also provide support for the layout of AI computing power facilities. As for other promises, such as the establishment of a Bitcoin strategic reserve and reduction of prison sentences, Trump has the authority to implement them, but the idea of ​​using cryptocurrency to resolve U.S. debt is still unrealistic. The scale of U.S. national debt liabilities is too large. It is difficult to achieve the purpose of resolving the debt solely by relying on the crypto-assets currently held by the government. It also needs to rely on the power of more capital markets.

Andrew ( IoTeX ): Hello everyone, my name is Andrew and I am the head of IoTeX Asia Pacific. I mainly lead the development of AI+DePin. IoTeX is committed to opening up the data connection between smart devices and blockchain, promoting more data applications and creating an open ecosystem.

My encryption policy under Trump is more relaxed than under Biden. Trump promised to support the crypto industry before taking office, which means we have entered an era of looser crypto policies. There are many high-level people in the Trump administration who support encryption. For example, many key figures in the encryption field appeared at yesterday’s dinner, including executives related to AI policy.

Next, Trump may establish an encryption committee to help promote policy implementation. The committee, which could include about 20 members, would be responsible for developing and driving updates to encryption policy. If he does, it will be a positive move. At the congressional level, Trump faces certain challenges, but he still has greater decision-making power. In the short term, he will further promote related policies in the blockchain and encryption fields. In the medium to long term, he may look at how assets such as Bitcoin integrate into the U.S. financial system, especially considering the possibility of using Bitcoin as a reserve asset.

Overall, Trump has the potential to promote the legalization of cryptocurrencies, and if these policies can be implemented, they will have a significant impact on the global crypto market.

JOSIE ( GMGN): Hello everyone, I am JOSIE, the CMO of GMGN. I am very happy to be invited to participate in this space today. Regarding what the previous guests shared, I would like to add something more. Recently, Trump posted some news on the Solana chain. He and his wife issued meme coins respectively. This behavior triggered a surge in the price of Solana and led to violent fluctuations in the price of Bitcoin. Judging from GMGN’s on-chain data, the number of Trump Coin holders has exceeded 800,000, and many new wallets have joined. This shows that under the guidance of national leaders, more and more outsiders are beginning to participate in cryptocurrency. market.

Judging from these on-chain data, Trump is actually testing the crypto market’s support for him in the process of issuing coins. By issuing coins and observing market reactions, he was able to see the crypto industry's attitude towards him and the positive response to his remarks and policies in the crypto field.

These actions by Trump demonstrate the support of the cryptocurrency industry and the high expectations for the promises he has made. For example, his increasing holdings of cryptocurrency and using Bitcoin as a national strategic reserve are very likely to be realized. Although he may need time to transition in adjusting the regulatory platform and replacing regulatory personnel, overall, these commitments are achievable.

As for the next market trend, I personally think it is a very favorable situation. Everyone has also noticed that the recent market fluctuations have been very violent, especially after Trump released the currency, more outsiders have joined the market, and it feels that the bull market in 2024 is nearing its end. But due to Trump’s policy commitments, a bigger bull market may explode in 2025. I am very optimistic about the future market, especially in the context of his promotion of cryptocurrency development and policy support. Currently, Bitcoin prices are fluctuating between $10,700 and $10,800, and I think there is still room to rise. Of course, this is not investment advice, but I believe the market will continue to move in a positive direction.

Phyrex: From a fundamental perspective, Trump is very interested in cryptocurrencies. The leaders of the new CFTC, SEC and other regulatory agencies have a strong interest in cryptocurrencies. Many of them have participated in crypto projects, exchanges, or have related experience. This is different from the situation under the previous term. Trump’s team’s cryptocurrency experience surpassed almost everyone in an instant. Therefore, everyone has high expectations for Trump’s future policies and actions.

From a market cycle perspective, the three months after the U.S. election are usually a peak period for the market , not only the presidential inauguration declaration and enthusiasm when he takes office, but also some post-election emotions and market fluctuations. If other factors are not taken into account, the enthusiasm at this stage itself may bring some benefits to the entire encryption market.

In addition, the incident of Trump issuing his own currency is also worthy of attention. Although some people are currently making some money from Trump and his family’s coin issuance, this is not necessarily a good thing for the entire ecosystem. In particular, some legal professionals in the United States are not optimistic about the Trump family’s currency issuance. I personally think that Trump may avoid talking about or involving his family’s currency issue, and may focus more on involving his son and wife in such matters. If his family does make some moves with cryptocurrencies, it could spark new moves in the market. As the waters of the cryptocurrency industry get deeper and deeper, Trump, as a businessman, is likely to take advantage of the situation and tap into more interests.

In addition, some lawmakers have proposed allowing the U.S. government to purchase Bitcoin as a strategic reserve. Personally I think this is unlikely to happen. If you buy a certain amount of Bitcoin every year, the possibility is very low, because the United States’ crude oil reserves and gold reserves have already spent a lot of resources, resulting in great pressure to buy further cryptocurrencies.

Of course, the U.S. government has tens of thousands of Bitcoins publicly stored, and the undisclosed portion may also reach hundreds of thousands. If Trump can really get the United States to use Bitcoin as a strategic reserve, it may not have a direct impact on the market, but if other countries see the United States doing this, they may follow suit and push more countries to join Bitcoin reserves. ranks, which will have a positive impact on the market. This has also brought about a trend: more and more countries, such as El Salvador, have begun to include Bitcoin in national reserves. If this trend continues, it may push more countries to hold Bitcoin, further increasing its value and market influence.

Judging from the three major tracks of the market, the current market distribution is also very interesting. The first is the Bitcoin-related ecology, including Bitcoin itself and related mining companies, ETFs, etc. As the price of Bitcoin rises, these companies and projects will also see growth. The second track is Ethereum and its derivative altcoin ecology. Although Ethereum is currently performing to a certain extent, capital inflows are small and market sentiment has not fully exploded. The third track is some emerging projects, mainly Solana. These projects have attracted a lot of funds, especially amid the craze of decentralized exchanges, market participants are more inclined to invest in these emerging chains.

Overall, the market currently lacks its own driving force. The trends of Bitcoin and Ethereum are certainly important, but without the impetus of policies or external factors, it is difficult for the market to develop solely relying on its own liquidity and trends. Current market sentiment relies more on external factors, especially policy and market acceptance of cryptocurrencies. If there is insufficient liquidity, the market may become a typical PVP (player versus player) market.

Therefore, everyone’s expectations for Trump are very high, especially if he mentions cryptocurrency-related content in his inauguration speech, even just one or two sentences, it may have a very large impact on market sentiment. Especially if Trump can issue relevant laws or policies after taking office, this will further stimulate market confidence. If these things happen, market sentiment may continue for weeks or even months. As for subsequent developments, we still need to observe the dynamics of the procurement season and other policies. In short, Trump’s actions after taking office will be one of the focuses of the market.

Kiwi (OKX Ventures) : I think Ni Da has said it very well. Trump’s policies are no longer the key, what matters is the impact of the digital currency he and Maynilla have launched on the industry. One possible trend is the decline of altcoins. This means that assets previously supported by VCs and others may lose their actual value, and a compliant asset issuance model may be ushered in in the future, in which anyone can issue coins. Recently, I've heard friends from JPMorgan Chase and Goldman Sachs ask how to buy related assets, and even some government officials have asked me for buying advice. This reflects the heightened focus on digital assets in emerging markets.

If we look at it from a cyclical perspective, the stronger get stronger, and many altcoins without institutional support, funding, and government endorsement are destined to perish. For some assets, we may need to let go of the fantasy . Another interesting trend is that after Trump launched digital currency, people from all walks of life around the world, including large companies and famous figures, were able to boldly issue assets and raise funds for new projects under the new regulatory framework. This means that a new asset issuance paradigm is being born.

In addition, there is a data worth paying attention to. The status of exchanges is changing, and the pricing power on the chain is gradually shifting. For example, the trading volume of Trump coins has reached 10% of the daily trading volume of Nasdaq, which marks the gradual shift of the entire market pricing power from traditional exchanges to blockchain. Although the market may usher in a new bull market, for VCs, how to participate in this wave of asset creation still requires careful consideration. For every participant, it is important to participate in the market correctly, but I am personally cautious about the recent market conditions, and risk control is always the first priority.

Ducking (DUCKCHAIN): Thanks to the host for the invitation. The previous teachers have introduced the macro and detailed content in great detail, so I won’t go into details here. Through Trump’s landmark event, the industry is confident about its future. We at DuckChain are mainly committed to building an AI-supported EVM-compatible chain based on Telegram and Tom ecology, with the goal of providing a smoother and more friendly experience for interactions on the chain, especially for novice users. We believe that with the help of AI technology, whether in DeFi, Gaming or other fields, interactions on the chain can be made more efficient and convenient. In addition, we recently successfully completed a round of strategic financing, with OKX joining as a strategic investor, and we are very grateful for this support. Finally, we maintain a very positive view on the future market conditions and look forward to continuing in-depth exchanges and learning with all teachers.

ChainCatcher: Everyone just talked about Trump’s official memecoin , so when did you first pay attention to this matter? Have you been involved? Then everyone summarizes your views on this meme in one sentence .

Yuyue: I just saw the tweet at 10:15 and participated. Then I posted in the group, threw CA into the group, and then rushed. Looking at the market outlook, I think it is very good and is going to new highs.

JOSIE : First of all, regarding the successful launch of GMGN on TRUMP, I would like to express my special thanks to everyone for their support. Due to the overheating of the market, the entire technology platform is facing tremendous pressure, but we have expanded the server capacity 10 times in advance to ensure that we can cope with the traffic pressure on the chain when Trump Coin is launched.

The issuance of Trump Coin not only detonated the market, but also brought considerable returns. Regarding the follow-up, according to current data, the number of Trump Coin holders is close to 850,000, and many early investors have made good profits. Some people who got started early have made good profits. The wallets I follow have even achieved very big results, and some have achieved a small goal. This is because there is such a market, and there is a new narrative like meme. No matter whether there are any application scenarios at the bottom of this narrative, or some so-called value investments, the meme season is here, and it is still expanding, as well as the market value It is also growing.

In the future, we will also launch a series of new functions, such as monitoring information on Twitter and promptly pushing updates on Trump or related family members to help users follow market hot spots more quickly and achieve precise transactions. In addition, we are also developing functions such as automatic selling and batch stop-profit and stop-loss to further optimize the trading experience. We remain optimistic about future market conditions, especially the possible future actions of the Trump family. We will pay close attention to them and provide relevant functions and services at the appropriate time.

Phyrex: For meme, I may still be in the beginner stage. Compared with some senior experts, such as Teacher Yuyue and Andrew, their research in fields such as AI has been very in-depth. What I pay more attention to is trend analysis, especially making reasonable predictions about the development trend of the entire market, so I don’t have a particularly clear view on specific price expectations.

From the perspective of my trading philosophy, I pay more attention to changes in trends, so I am more inclined to observe and study the overall direction of the market. The incident of Trump’s coin issuance, regardless of its specific application scenarios, actually opened up new ideas to many politicians, entrepreneurs and even some influential people. In the past, many people may not have dared to try to issue their own coins due to moral, legal and other constraints, but if this path can unfold smoothly, more political figures may participate in it in the future.

For example, if a historical figure like Obama launches a digital currency to support the black community, this will undoubtedly attract huge attention and support; similarly, female politicians such as Harris may also take this opportunity to promote more women's rights. In these market tracks with huge potential, the participation of politicians will greatly promote the further development of this field.

In my opinion, the meme track has strong resilience in both bull and bear markets . Even in times of market uncertainty, it can still maintain strong growth as long as it finds the right angle. Therefore, I think the meme track and Solana chain will still have great potential in future market development, especially guided by user sentiment and market demand. In contrast, BTC is a mainstream digital asset. Although it has certain support strategies, the threshold for participation is relatively high for most ordinary investors. The cost of buying BTC is high, and buying US stocks also has natural obstacles for many people. In contrast, the meme track provides opportunities for more people to participate and is easier to popularize, especially among public investors.

Additionally, the current liquidity issues faced by altcoins are a significant challenge that may be difficult to resolve in the short term. Therefore, the real recovery of altcoins may have to wait until 2026 or later, when global monetary policy begins to turn loose and interest rates fall back, and a new cycle is possible.

In general, the current market cycle may be mainly focused on the two paths of BTC and meme. As for the future, I think we need to better understand these trends and make arrangements in advance to cope with the arrival of the next cycle.

Kiwi: I totally agree with you. What you mentioned about future compliant currency issuance forms and the maturity of on-chain assets is indeed a very important trend. The incident of Trump’s currency issuance is actually not just a simple market craze, but also marks the emergence of more compliant currency issuance and legal forms. The "compliant fairlaunch" model you mentioned is actually an upgrade to the existing market. It allows more traditional investors, institutions and projects to enter the blockchain world with more confidence, thereby promoting more Capital and innovation move in.

In this regard, VC projects like the ones you mentioned or those that have raised funds on platforms such as Binance may indeed consider issuing coins directly on the chain in the future to avoid cumbersome intermediaries and compliance issues. Moreover, asset launch on the chain is no longer exclusive to a small circle, but has gradually evolved into an open, transparent, and compliant asset issuance channel, similar to Nasdaq or the traditional stock market. Investors Enjoy greater transparency and liquidity. The rise of this trend will inevitably lead more projects to become open and compliant, thereby further promoting the maturity of the entire market.

Regarding market participants, it is true that this cycle is completely different from previous cycles. In the last cycle, more players who made money through mining and trading were the K-line players, but now the winners in this round are mainly those P teenagers and P generals. Their preferences and trading models actually drive different rhythms of the market. . Especially as the dominance of the Asian market becomes more and more prominent, for example, the time period from 6 o'clock to 10 o'clock is completely dominated by Asian investors. This also shows that the investor structure on a global scale has undergone fundamental changes.

Not only that, as these players accumulate wealth, their patterns and strategies will also affect more new players, gradually forming a virtuous cycle. This also means that the future market will no longer be limited to the "bull market" period, but on a more stable basis, the transaction volume and market activity on the chain will continue to be maintained.

The form of asset issuance and trading on the chain is becoming increasingly mature, and will attract and retain enough participants whether in a bull market or a bear market. Moreover, the influx of these new players and capital also means that the market will continue to be driven by the demand for innovation and diversification, and more diverse asset types and trading methods may appear in future cycles.

In summary, I am also very optimistic about the trend of on-chain asset launches, especially driven by the dual promotion of compliance and innovation. In the future, the on-chain market will be healthier and more transparent, and it will also attract more players to enter.

Ducking: The changes in meme ecology and community culture are indeed a highlight of the current encryption market. Meme has transcended the 1.0 stage of a simple zoo or "random rush", and has gradually entered a more mature and systematic 2.0 stage. Now, meme is not only an IP symbol, but also carries huge community power and cultural value behind it, and has become one of the core driving forces of the entire ecosystem.

Especially in the current crypto market, the power of community is becoming increasingly important. Everyone's cognition and emotion towards memes have gone beyond mere transactional behavior, forming a stronger consensus and sense of belonging. This "belief value" is actually very critical. It determines the holder's behavioral habits and loyalty to the project - when a community member has enough emotional resonance with a certain project or asset, they will not be easily Sell ​​the tokens in your hands and be more willing to participate and promote the growth of the project.

In addition, as community culture gradually matures, the perspectives of project parties and institutions are also changing. In the past, the evaluation criteria of many projects may have focused more on technical and market indicators, but now, community activity, emotional changes, user participation, etc. have also become very important evaluation factors. In particular, this "emotional value" is increasingly seen as one of the key points for the success of a project. Investors and institutions are not just looking at numbers and data, but also sensing the enthusiasm and driving force behind the community. Such changes mean that the encryption market is developing in a more mature and healthy direction.

The evolution from animals to celebrities to AI fully demonstrates that the market’s understanding of IP is constantly deepening. From Telegram’s duck IP to today’s broader celebrity and AI elements, the cultural attributes and range of participants of meme are constantly expanding. This diversified trend will greatly promote the recognition and acceptance of memes in the global market.

With the integration of these emerging community cultures and values, the market potential of memes is huge. Moreover, as more project parties and VCs begin to pay attention to the impact of the community, market liquidity and the flow direction of funds will become more stable and healthy. As these trends continue to deepen, I believe that more interesting and meaningful innovations and opportunities will be born.

Andrew : I would like to share my views from a product release perspective. During my recent business trip, I saw some developments in the market, especially the price fluctuations of certain currencies. When I first discovered it, the price was around $20, and I immediately had the urge to invest. Different from the encryption market logic discussed before, this time's thinking made me re-examine the changes in the market.

Especially the meme, which has been widely discussed recently, I think it represents a form of asset in the market that can accommodate multiple consensuses. It is like a container that can touch a wider cognitive field. The success of this project is not limited to one region, it resonates both in the East and the West. Take "Presidential Coin Issuance" as an example. It is not only an innovative initiative, but also breaks the boundaries of the traditional financial system, allowing global users to participate. This global sense of participation and creativity makes this phenomenon very interesting.

From the perspective of trends, I think the logic and market dominance of meme coins are constantly changing. In addition to meme coins, AI has gradually become an important leading force in the market. Therefore, we are also trying to combine low frequency with AI to explore new gameplay and scenarios. We are constantly learning how to engage new user groups and be able to integrate into this trend. At the same time, we are also paying attention to how to use existing capital and user attention to promote the continued development of new projects. Next, we will continue to explore this area and explain it. I remain optimistic about the market outlook, especially regarding the future trend of the crypto market.

Lucio : Although there are many optimistic voices in the current market, I think the situation is not that optimistic. Specifically, I bought it when the market capitalization was around 20 billion and the price was in the mid-20s. At that time, I expected that the price might rise to around $50, but I did not expect that the subsequent price would quickly approach $80, and even trend towards $100. However, I don't think this is a good thing.

Trump issuing coins makes me uneasy. He used his influence and fan base to quickly attract a large number of new users and market funds, especially through this "market sinking" approach. However, market liquidity is limited and this approach is not healthy. By issuing new coins, he attracts a large amount of funds, but the flow path of these funds is also clear - most of the funds will likely stay on the chain or flow into areas he controls, and will not enter other ecosystems.

Especially after he released the new currency, except for Solana-related tokens, tokens in other fields generally fell. It makes me think that some people think he has a longer-term plan behind it, but I think most are probably just overthinking it. Then, his spouse also launches a new currency, and then his relatives, friends, and even people within the government may follow his lead and withdraw funds from the market. This behavior allowed me to see the prototype of a "Trump family launchpad" and even became a token issuance platform for "American government". This is obviously not a positive sign.

The most worrying thing is that these new users enter the market late. As the popularity gradually subsides, they will face losses. Especially when market liquidity is difficult to continue to expand, it may be difficult for these users to obtain returns on their funds. We can refer to the case of Dogecoin that was hyped by Musk in the last round, especially the highest point of Dogecoin, which is the historical high point of Bitcoin. I don’t think Bitcoin’s decline will be that big this time, but the performance of other altcoins will level off, and probably most of them will linger around, waiting for the next wave of prices.

ChainCatcher: The next third question focuses on what other trading opportunities exist for meme , such as wallets , launch platforms, etc. We hope everyone can start a discussion .

Yuyue: I think that in addition to meme coins, there are indeed some secondary market opportunities that are worth paying attention to. As the teachers said, when a consensus is formed, the market will not be as simple as expected, so other potential opportunities need to be explored. For example, Radium, as the basis for distributing liquidity pools, has shown alpha returns that far exceed the market as the market rises. This is an obvious opportunity for the secondary market.

Another example is Jupiter. Jupiter is the exchange rate node platform used by almost all BOTs and has gained considerable revenue sources through e-commerce transactions. Its advantage in mastering the right to speak in transactions makes it perform well in the market and deserves attention.

If we talk about opportunities beyond meme coins, we can look at projects like Radium and Jupiter. In addition, I am also very optimistic about Solana. From the perspective of the supply chain competition landscape, I believe that future liquidity will be concentrated on chains with stronger performance.

From this perspective, some chains may face illiquidity issues, especially those that are at a competitive disadvantage. In this round of the market, although they may enter the exchange through various methods, their currency prices may not be ideal, and they may even be eliminated. I think this is possible. In the end, after the big waves, those projects that have practical applications and provide stable income will remain. In particular, it may be said that only through the expectations of ETF or so on can we survive.

JOSIE: I think that in addition to meme coins, the opportunities on the blockchain are constantly changing. For example, the current on-chain PVP gameplay is no longer suitable for all users, especially for phenomenal projects like TRUMP, which can weaken the impact of PVP, thereby allowing more ordinary users to participate in on-chain transactions and lowering the threshold for participation. If future projects can reduce the existence of this kind of gameplay, it may benefit more users, especially those new to the market.

In addition, I also recommend paying attention to some practical applications related to blockchain, especially in the field of AI agents. In the process of combining blockchain and AI, the underlying technology and applications are likely to bring greater results. The blockchain industry is inherently a rapidly evolving field, and we need to view these changes with a more positive attitude rather than being biased. After the entire CEX exchange is launched, many coins will be integrated to launch the project. For DEX, the transaction competition on the chain will not lie in resources, but in the experience of the product.

For example, some trading platforms provide better services by integrating multiple resources. This model may promote the growth of the value of the platform currency, similar to the early development history of Binance and OKX. Users who participate in these platforms early may receive relatively stable returns later.

In general, the value of the on-chain trading platform far exceeds the benefits that a single project party can bring. By participating in these platforms, users can gain more opportunities, especially early supporters of some platforms may receive additional rewards. For example, the Fat Penguin NFT airdrop is an example, which rewards users who have traded on the chain.

Finally, as more and more young users join, the market demand for fresh blood and new gameplay will continue to increase. In the past, many people looked down on Dogecoin, but today's market hot spots are often in these places. The younger generation of users pays more attention to whether they can make money from it, rather than paying too much attention to the underlying logic. Therefore, we must be more open-minded and welcome new changes and opportunities, especially early participation, which can often yield unexpected returns.

Andrew:

Regarding the market opportunities around memes, I think we can focus on several directions. First of all, ICO and other similar asset issuance methods, such as reissuing assets in new ways, bring new opportunities and gameplay to the market. Especially for asset issuance methods like DApp, it can issue new contracts in a faster way. Although this method has higher risks, it can also produce a greater market response in a short period of time. I look forward to seeing more innovative distribution methods that can provide opportunities for different market groups, especially in the DApp ecosystem. In addition, the infrastructure construction of the encryption market, such as the infrastructure investments made by some platforms, is also a focus we need to pay attention to. We should keep an open mind and explore different gameplay and modes, because the market has new opportunities every day, and the key lies in whether we can seize these opportunities.

In general, the current market is full of changes and opportunities are everywhere. As long as you maintain flexible thinking and seize the opportunity, you can take the lead in the competition.

Lucio : Regarding whether Trump’s currency issuance can start a new super cycle, I personally think it is unlikely. This is more like the top of a cycle than the beginning of a new one. New cycles are usually driven by new technologies or trends, similar to the rise of fields such as AI. Trump’s behavior of issuing coins is more like a large-scale market event than the beginning of a long-term trend.

However, if the market continues to improve, it will certainly be a good thing for everyone. In the current market, users who are sensitive to on-chain operations can still make profits by following projects such as Dogecoin. As market popularity increases, many new projects will emerge, providing new opportunities.

As Trump comes to power and gradually relaxes regulations, some RWA projects may also see opportunities, especially as some teams are quietly preparing for such projects. I think the potential of this type of project is worth paying attention to.

Finally, there will also be a lot of room for development in cryptocurrency-related tools and platforms, especially those that incorporate AI for on-chain data capture and analysis. The opportunities in these areas cannot be ignored.

ChainCatcher: Trump’s currency issuance is a very out-of-circuit event, which can often drive some new funds and increase market sentiment. However, this wave of opposition has become even louder . For example, on-chain transactions have taken away liquidity, and other currencies have also come under pressure . What do you think is causing this polarization?

JOSIE: I personally believe that Trump’s coming to power will not directly start a super cycle, but will bring compliance challenges to the entire cryptocurrency market. As the market gradually becomes more compliant, this process is inevitable, especially as the Trump administration's friendly attitude toward cryptocurrencies gradually emerges. I think this will give birth to a new bull market in 2025. In addition to Bitcoin's halving cycle in 2024, the overall market lacks more supporting factors, and Trump's policy changes may become an important factor driving market growth.

For users in the encryption industry, especially those in the Chinese-speaking community, this process is full of challenges. Although the market will develop rapidly with the support of U.S. policies, how to keep up with the pace of the U.S. market has become a major challenge for users in the Chinese-speaking circle. However, this also brings more opportunities, especially as compliance advances, it may bring new policy support and development space for entrepreneurs in the Chinese-speaking circle.

For investors who have already made gains in the crypto industry, I recommend that they pay more attention to risk management and avoid over-reliance on leveraged trading as they have in the past. Although contract leverage can magnify returns, it can also easily bring risks such as liquidation. For new users, in addition to understanding market trends, the most important thing is to learn the basic knowledge and security protection measures of WEB3. For example, how to prevent phishing attacks and how to ensure asset security. There was a recent case in which a user sent funds to the wrong contract address due to operational errors, resulting in the loss of assets. This kind of incident reflects the lack of security knowledge of new users, and also reminds everyone that they must have basic security awareness during the transaction process.

At the same time, in recent years, security incidents like FTX have shown us the importance of security issues on encryption platforms. The GMGN platform has made security its first priority, ensuring the safety of users’ funds during their transactions. We have also strengthened risk control measures, and we have also optimized a lot in product innovation and user experience to improve the speed and accuracy of transaction. On the whole, the future encryption market will pay more attention to compliance and security. In this process, not only market participants need to raise awareness of security, but the platform itself must continue to innovate in risk control and technology to ensure the security of user funds and transaction processes.

Lucio : BTX Capital analyzes Trump's holders including the holding of the market, whale wallet, and Trump -related wallet. We found that the currency was highly concentrated. In addition, according to trading behavior analysis, traders are divided into three categories: small traders, medium -sized traders, and large traders. Among them, medium players dominate more than 5%of the transaction volume, but according to the operating frequency analysis on the chain, the overall transaction volume is still concentrated in a small range.

Although whales were buying at this time, many whales have begun to perform selling plans. On the whole, these operations affect the liquidity of the market. We have also analyzed the address with the most bonus and the previous holders. Although the liquidity on the chain is partially injected, this has not changed the leading pattern of the market. Many off -site investors often start to lose money after entering, and finally choose to stop leaving. Only a small number of investors will continue to study other projects and tokens.

The injection of each round of liquidity seems to bring some hope. However, the actual situation is that large households and whales use this time to sell the tokens in their hands to further weaken the stability of the market. Therefore, although the market seems to have ushered in liquidity injection, this liquidity is often eventually controlled by large households.

As for the Trump administration's support for the encryption market, although his policies sometimes fluctuate or his remarks are relatively wide, I think his support for the market has a certain positive effect. Although the policy is not clear enough, in the long run, it still has a certain influence.

Chaincatcher: The last question. Although the Trump administration 's friendly attitude towards encryption will become a catalyst of the entire industry, there is indeed a certain special characteristics in the Chinese encryption circle. Let's look forward to what opportunities and challenges will the currency circle in the Chinese circle in the future? I hope you can share some views on the perspective of Chinese entrepreneurs /participants .

Josie: Regarding this issue, from the perspective of Chinese entrepreneurs, the Trump administration's policy is relatively friendly, which is positive for some industry practitioners. However, Chinese entrepreneurs still face the issue of how to promote development in the industry. Although the current policy led by the Trump administration seems to be conducive to industry development, as Chinese practitioners, we cannot fully rely on external forces. Instead, we must ensure that the industry is in the direction of the interests of Chinese entrepreneurs through personal or organization efforts. develop. Therefore, when facing the industry's challenges, the Chinese circle needs to be more rationally evaluated and responded accordingly.

At present, there are still certain fragments between the Chinese market and overseas markets. Chinese users tend to support Chinese projects, while overseas markets have formed different circles, and there are fewer intersections between the two sides. Unless it is a project with a strong market certainty, it can form a certain penetration between the two. The Trump administration's policy has indeed played a role in promoting the compliance of the encrypted industry. We have already foreseen this. But from the perspective of Chinese practitioners, we should not fully rely on the policy orientation of the United States, especially for the United States government to lead the development of the global encryption industry.

We are relatively optimistic about the policy of the Hong Kong government. The Hong Kong Government has always been positive for the capital market. It is expected that in the next few years, the Hong Kong government may introduce more friendly policies, especially regulatory measures for the encryption industry. Therefore, the Hong Kong government may attract more Chinese practitioners, and even some Southeast Asian regions such as Singapore and Dubai have become the focus of attention. In the future, the Chinese encryption industry may form a relatively independent circle. This circle is particularly significant when it is in the bear market, because in the downturn in the market, practitioners are more supportive.

In general, although the Trump administration's policy changes have brought certain opportunities, Chinese practitioners still need to rely on their own efforts to find a path that meets their own interests. I am optimistic about the possibility of a more friendly policy in the Hong Kong government in 2025, and I look forward to these policies to create more opportunities for Chinese practitioners.

Lucio: The two cases you mentioned after the Chinese currency circle that you mentioned may occur after the regulation is indeed an important issue facing the encryption industry. On the one hand, policies in Southeast Asia, Hong Kong, Singapore and other regions have gradually embraced the crypto market, which undoubtedly provides a positive environment for the long -term development of the encryption industry. The release of supervision helps to attract more projects and capital into the market, and at the same time, it can also increase the liquidity and market depth of the encrypted market. This is an important factor in the continuous growth and maturity of the encryption industry.

However, on the other hand, with the relaxation of supervision and the gradual opening of the market, the "earth dog coins" and some projects launched for short -term profitability will indeed have an impact on the reputation and sustainable development of the entire industry. The emergence of this phenomenon often makes the market more bubble, and may even attract some irresponsible developers and investors to participate in it, resulting in value projects in the industry being ignored or marginalized. The disappearance of the "initial heart of the currency circle" is actually a risk that cannot be ignored. As more developers turn to short -term profit, the healthy development of the entire industry is facing certain challenges.

However, there is no way to avoid. Each industry will experience a certain ups and downs and fluctuations in the process of development, and truly valuable projects and teams will eventually stand out in the baptism of the market. Adhering to the team that supports high -quality projects, injecting liquidity, and improving implementation management is exactly the most needed forces in the industry. The original intention is unchanged, and it continues to grow with the large project party. This attitude is very important because it not only helps inject long -term stability into the market, but also helps the industry's sustainable development.

For the future, continuing to pay attention to and support projects with real value and potential, and avoiding blindly following the trend, is the core thinking that every industry practitioner needs to maintain. As for deep research reports and test releases, it is also a good way to provide investors and industry participants with more professional perspective and decision support.