The actions in the crypto circle have indeed been intense these days. The US CLARITY Act is about to enter the review stage, and the regulatory framework is gradually becoming clearer. The compliance track has gained a certain outlook, which is a signal for long-term participants. Meanwhile, Hong Kong is exploring the direction of gold-pegged stablecoins, and the cross-regional migration of safe-haven assets is also accelerating.

On the other side of the market, the event of 120 million in liquidation within 4 hours of meme coins is still fermenting, clearly high leverage remains a risk source. However, it is worth noting that institutional funds are quietly flowing into high-consensus tracks—AI Agents and RWA have become new areas of focus, reflecting a reassessment of fundamentals by institutions.

Wintermute's large transfers have also triggered a chain reaction in the market, indicating that whale movements remain an important reference. At this stage, it is not suitable to blindly follow the trend. Choosing projects that have both a solid compliance foundation and ecological support is a relatively rational decision.