Crypto Market Trends and Hotspot Analysis

Macroeconomic Environment

Trump issues Meme coin causing controversy

Recently, a new cryptocurrency project has sparked widespread attention and controversy. This meme coin project, associated with a well-known political figure, could lead to constitutional discussions. Although more favorable crypto policies may emerge in the future, fundamental legal principles will remain unchanged, and the personal inclinations of regulatory leaders cannot override existing securities laws.

This project reveals some fundamental contradictions in contemporary politics. Although the project initiators claim to support the encryption currency industry and promise to make the United States the "global cryptocurrency capital," the structure of their digital tokens and the timing of their issuance raise concerns about the fusion of personal interests and political power. The ownership of the tokens is highly concentrated, and the issuance coincides with important political milestones, which leads one to question whether they genuinely support encryption currency innovation or are further commercializing political positions.

South Korea cracks down on encryption money laundering activities

South Korean law enforcement recently uncovered a large-scale crypto market money laundering case. A criminal gang led by a former professional athlete has been accused of laundering money for multiple gambling websites, with the amount involved reaching 1.1 trillion won (approximately 756.8 million USD).

The gang collected gambling funds from numerous members through fake trading platforms and a large number of bank accounts from January 2022 to September 2023, profiting by charging transaction fees. More concerning is that they also used deepfake technology to lure minors into participating in gambling activities. Currently, several people have been arrested or are facing prosecution.

Crypto Market Trends

The market is generally correcting.

The crypto market has seen a widespread correction. AI-related sectors have dropped by 12.08% within 24 hours, with major AI tokens such as AI16Z, ARC, AVA, and ACT falling by 29.83%, 23.69%, 32.92%, and 29.18%, respectively. Several sectors, including DeFAI, CeFi, PayFi, DeFi, Layer 1, and Meme, have also experienced varying degrees of decline.

The price of Bitcoin briefly fell below the $100,000 mark, with the latest price at $102,499. Only a few tokens, like FARTCOIN, rose against the trend by 16.74%.

Hot Topics in the Web3 Field

New Cross-Border Encryption Payment Solution

A blockchain company has announced that it will collaborate with an international payment institution to launch a cross-border encryption asset payment card aimed at promoting the use of encryption assets in daily life. This payment card will cover various areas, including clothing, food, housing, transportation, cross-border transfers, and DeFi services, and is expected to further promote the popularity and practicality of encryption assets.

This service will be supported by blockchain technology and introduce innovative protocols to provide a seamless user experience. At the same time, the company plans to introduce high-quality Web3 projects within the ecosystem to provide users with value-added rights and airdrop opportunities, enhancing the user experience and ecosystem value.

The cryptocurrency craze among political figures' families

Recently, a well-known political family has sparked a crypto market frenzy. A certain political figure launched a personal meme coin just before taking office, experiencing an astonishing price increase in a short period, with a market cap nearing $80 billion at one point. Subsequently, family members also launched their own cryptocurrency, quickly surpassing $5, with a market cap exceeding $5 billion.

However, this series of token issuance activities has had a huge impact on the market. The first launched meme coin plummeted by 60% within 30 minutes after the new token was released, triggering a decline in other mainstream cryptocurrencies. Analysts believe that this reflects the market's frenzied pursuit and rapid shift towards this family of cryptocurrencies.

It is worth noting that this family holds 80% of the total supply of the first meme coin through the company, which could have a significant impact on the market. Although these meme coins have shown remarkable performance in the short term, analytical institutions caution investors to be cautious with such highly volatile and speculative tokens to avoid losses.

Hot Project Analysis

quarm project introduction

quarm is a proxy cluster system designed to coordinate dedicated AI agents to handle queries. The project is currently in the early development stage, with only 4 stars on GitHub, and the last code commit was made 3 days ago. The project code has few dependencies and mainly uses the OpenAI library.

The core functionalities are concentrated in the swarm.py file, which implements a multi-agent AI system capable of handling user queries ranging from simple to complex. The project also includes a simple Telegram bot code and API server code that provides an interface to receive user requests.

In terms of token distribution, the development team purchased a total of 120M, accounting for 12% of the total supply. Among them, 5% is transferred to AI16Z DAO, 5% is locked until July 17, and 1% is held by the development team.