This article explores the RWA (Real World Assets) craze, analyzes its role in the entire chain, domestic projects, and market prospects, emphasizing the bridging role of RWA between TradFi and new finance. It discusses various participants and regulatory trends, as well as the potential and development direction of RWA in the future.

The Arbitrum token issuance has sparked a wave of enthusiasm in the Layer2 ecosystem, with TVL rapidly rising to $2.25 billion. Other projects like zkSync and StarkNet have also benefited significantly. User interaction has surged, especially among Chinese users who are highly enthusiastic about airdrops. Although the Layer2 ecosystem is developing rapidly, it still requires improvement, and a real explosion is expected in 2024.

Crypto market macro research report: A selective bull run is brewing.
1. The macro turning point has arrived: the regulatory environment is warming up.
As the third quarter of 2025 begins, the macro environment has quietly changed. Against the backdrop of the Federal Reserve ending its rate hike cycle, fiscal policy returning to a stimulus track, and the accelerated construction of a "inclusive framework" for global encryption regulation, the crypto market is on the eve of a structural reassessment.
In terms of monetary policy, the macro liquidity environment in the United States is entering a critical turning point. The market has reached a consensus on interest rate cuts within the year 2025, expecting that the real interest rates in the United States will gradually decline from high levels. This opens up an upward channel for risk assets, especially the valuation of digital assets.
In terms of fiscal policy, the fiscal expansion represented by the "Great American Rescue Plan" is bringing about an unprecedented capital release effect. This not only reshapes the internal circulation structure of the dollar but also indirectly strengthens the marginal demand for digital assets.
In terms of regulation, the SEC is focused on encryption.

Recently, the Fed's interest rate cut expectations have been lowered from 100 basis points to 75 basis points, with a clear trend of falling inflation; the U.S. has postponed cryptocurrency tax rules until 2025. Syria has proposed a Bitcoin-based banking system to promote economic recovery. The Ethereum News Weekly will cease operations in 2025, and Elon Musk's name change has triggered fluctuations in the crypto market. The market follows the AI, MEV, and Layer2 zones.

The United States has proposed using the profits from its gold reserves to purchase Bitcoin, marking an elevation of Bitcoin's status within the global financial system. This strategy raises questions about the safe-haven properties of gold and demonstrates the potential use of Bitcoin as a financial tool. However, whether Bitcoin can exist independently of the existing system and become true digital gold remains to be seen.

Robinhood plans to build a Layer 2 solution on Arbitrum, aiming to integrate with TradFi. This solution may focus on meeting the customized needs of traditional finance, facing challenges such as efficient trading and system stability. If successful, it could accelerate the digitalization process of traditional financial markets and have a positive impact on the Ethereum ecosystem.

This week, the blockchain industry reported a total of 36 investment and financing cases, amounting to approximately $605 million, mainly focused on Decentralized Finance, NFT, and trading platforms. In addition, Bitcoin's market capitalization surpassed $1 trillion, and Beeple's NFT artwork was sold for $69.35 million, with traditional institutions continuing to increase their Bitcoin investments.

Ethereum addresses network congestion issues through L2 scaling solutions, mainly including OP-Rollups and ZK-Rollups. OP-Rollups use optimistic verification, where the validity of transactions needs to be challenged after a problem is discovered, with the risk of a long challenge period; ZK-Rollups, on the other hand, require a validity proof to ensure security but demand high computational resources. Both aim to improve transaction efficiency, drop costs, and promote the sustainable development of the Ethereum ecosystem.

On June 8, Ho Chi Minh City, Vietnam will host a global summit themed "Web3+2024 in Vietnam: A New Era for GameFi", focusing on the development of the GameFi industry. The summit will bring together industry leaders and investors to discuss the future of public chains and GameFi, investment strategies, and showcase innovative projects and collaboration opportunities.