Weekly Editors Picks is a functional column of Odaily Planet Daily. In addition to covering a large amount of real-time information every week, Planet Daily also publishes a lot of high-quality in-depth analysis content, but they may be hidden in the information flow and hot news, and pass you by.
Therefore, every Saturday, our editorial department will select some high-quality articles that are worth spending time reading and collecting from the content published in the past 7 days, and bring new inspiration to you in the crypto world from the perspectives of data analysis, industry judgment, and opinion output.
Now, come and read with us:
Investment and Entrepreneurship
Long-term holders took profits, and Bitcoin hit a new high before a top-escape signal appeared?
Many historical accumulation areas have turned into selling areas, which are weighing on price action. Near-term support is around $103,700 and $95,600, with resistance at $114,800. Groups with holding periods of more than 1 year have dominated recent selling, reflecting a mature capital rotation.
Listed companies are all buying crypto assets, who is actually making money?
MicroStrategy’s sole objective has shifted to growing its Bitcoin reserves, and in the process, all participants have benefited: holders of convertible bonds and preferred shares are effectively playing the “cheap volatility” game, taking advantage of volatility in both MSTR stock and Bitcoin prices; direct debt holders care only about fixed income returns, which are easily supported by the EBITDA that MSTR can still generate from its old core business; equity investors profit from the premium on MSTR stock, which is far higher than the net asset value (NAV) of Bitcoin on its balance sheet - everyone wins.
Who didn’t make money? — New investors.
It is precisely because of this that the voices of doubters have become more intense and imitators have emerged one after another.
If these shares continue to trade at a significant premium to net asset value (NAV) after unlocking for new investors, then we will see more deals like this. But if these shares start to fall sharply, or even fall below NAV, then it will be game over. It may take several months before we know how the market reacts when these shares unlock.
These shell companies may also be able to maintain a premium over NAV for a long time, but the conditions are harsh. Maybe one day, MicroStrategy (MSTR) will become the Berkshire Hathaway of the crypto field. By then, Bitcoin may become an extremely scarce and highly sought-after asset, and the company may even be willing to accept a lower acquisition offer from Michael Saylor just because he can pay with precious Bitcoin.
Another way that the shell company premium could persist is if these companies become more creative in choosing underlying assets. For example, they could hold high-quality tokens like HYPE that are not currently listed on any centralized exchange, thereby providing new investor groups with exposure to HYPE. This scarcity and uniqueness may attract investors willing to pay a premium. However, these scenarios are only long-term possibilities.
Investors can capture opportunities through the following framework: team impact, asset quality, sustainability of crypto premium, and in-depth analysis of specific projects.
However, when the strategy involves tokens outside the top 20 in market capitalization, one must be extremely cautious. These tokens not only lack the hard asset attributes of Bitcoin, but also often lack sustained net buying demand.
List of characters in Crypto Dark Forest
The core of the current crypto industry is not about making products, but about making stories - telling a narrative of high illusion of yield to induce others to buy a certain token. Focusing on product construction has become a discouraged behavior (although this is slowly changing).
The entire token valuation system has been completely distorted. It is no longer based on fundamentals, but relies on market value benchmarking for horizontal comparison. The core question of the project has changed from what problem does this token solve to how many times can it increase at most In this environment, projects can hardly be reasonably priced or evaluated. You are not buying a company under construction, but a lottery ticket. You must recognize this when investing in cryptocurrencies.
The script for selling a narrative is pretty simple: just create a story that sounds reasonable but is actually unpriceable.
YZi Labs takes action, making two bets in seven years. Is hardware wallet still a good business?
Hardware wallets have always been a business where newcomers are hard to enter and old brands are hard to grow. High barriers to entry, high education costs, thin hardware profits, and long user conversion cycles are the inherent structural challenges of this track.
What really pushed hardware wallets back to the core of users’ vision were two unexpected industry events:
The outbreak of the on-chain Summer in 2020 has catalyzed a group of on-chain Degen users to start using hardware wallets for secure signatures and contract interactions, completing a critical step in educating many users from 0 to 1;
The FTX collapse in 2022 and the trust crisis brought about by the collapse of CEX have caused a large number of users to re-examine private key management. Not your keys, not your coins has changed from an idealistic slogan to a real pain point, and the attention to hardware wallets has surged.
Among the Chinese-speaking user group, in addition to the two overseas veteran manufacturers Trezor and Ledger, the ones with the highest recognition and the most active product iterations are OneKey and SafePal.
The competitive dimension of hardware wallets is extending from security capabilities to service capabilities.
Also recommended: The new SEC chairman has issued multiple get out of jail free certificates. Is DeFi about to have another spring? Spot ETFs will be launched as early as July. Can Solana replicate the BTC-style surge?
Airdrop Opportunities and Interaction Guide
Huma launches second staking campaign, is it still worth staking?
Meme
Exiting the Liquidity Machine: Inside the Pumpfun Token Launch
This report reveals a persistent, structured, and highly profitable Solana token issuance extraction strategy: deployer-funded same-block sniping. By tracking the deployers direct SOL transfers to the sniping wallet and locking in a group of insider-style behaviors, Solanas high-throughput architecture is used for coordinated extraction.
While this method only captures a portion of same-block sniping, its scale and pattern indicate that this is not scattered speculation, but rather operators with privileged positions, repeatable systems, and clear intentions.
Mitigating this problem requires more than just passive defenses, but better heuristics, early warning, protocol-level guardrails, and ongoing efforts to map and monitor collaborative behavior. Detection tools exist — the question is whether the ecosystem is willing to actually apply them.
P Marshal, who can break out of the Golden Dog market, has several major characteristics: binding with KOL and using traffic to maintain popularity; spontaneous projects with a clear rhythm, the first round of pulling up the market to attract attention, the second round of washing the market to eliminate short-term trading, and the third round of pulling up shipments; the process is highly tooled, with a one-stop service of chain scanning monitoring and robot deployment; working in groups, with clear goals and precise division of labor, he is a complete professional trader.
Tracking these P Marshal-level addresses is one of the best ways to get into the game. Their on-chain address behavior is the best MEME compass.
Ethereum and Scaling
Revisiting Ethereum: What are the reasons to be bullish?
Multi-ecology and cross-chain
QQ Show Reborn: Telegram Gift NFT ignites TON Ecosystem
Judging from the transaction volume, Telegrams Gift NFT officially started to gain momentum around mid-May and has experienced explosive growth in recent days.
Compared with traditional NFT, TON NFT has different main project types, transaction models, and usage methods.
If Telegram does well, this model has great potential and has the opportunity to break out of the circle and directly attract people from Web2, because gifts can be given directly to friends in Telegram, and the other party does not need to have an encrypted wallet from the beginning.
Currently in the secondary market, the series with relatively small total volume and relatively good appearance have basically increased in price. If the creator ecosystem can be created in the future, the popularity may be even higher.
Plasma, Tethers trillion-dollar stablecoin ambition
Plasma is not trying to reinvent the wheel. What it does is to leverage USD₮ - the worlds largest and most liquid USD stablecoin - and promote its global spread and popularity through a zero-fee transfer mechanism. The aggregation and spread of USD₮ on Plasma will not only improve the efficiency of USD₮s distribution, but will also bring important secondary and tertiary effects, thereby injecting vitality into further innovation and economic activities on the chain.
Plasma has two main core value capture mechanisms: issuance and issuer incentives, and DeFi + MEV (maximum extractable value).
Plasma needs to prove its security and reliability in large-scale use scenarios and attract a wide range of validators, not limited to current crypto users, but also new user groups - whether individual users, fintech companies or large institutions. At the same time, Plasma will also face competition from existing mainstream platforms, such as Tron, Solana and various Ethereum second-layer networks, as well as new chains built specifically for payment scenarios.
CeFi DeFi
Those who make money don’t want to go public, and those who go public may not share the profits. “Profits” actually have nothing to do with retail investors. Usual, through the USUAL token, allows retail investors to gain exposure to the profits of the Tether model.
Decoding Circle’s 100x Valuation: Why Stablecoin Issuance Is Not a Good Business?
Circles core profit model mainly consists of two parts: interest rate differential and payment and clearing fees.
Up to 58% of Circle’s revenue needs to be distributed to channel partners as “distribution and transaction costs”, and Coinbase is the biggest beneficiary.
For most companies and institutions, it is not a wise move to simply rely on issuing coins for revenue. The real opportunity lies in using stablecoins, an efficient financial tool, to empower their own business scenarios.
Web3 AI
Web3 Beginner Series: MCP Completes Transactions in One Sentence
In the Web3 field, MCP can provide rich blockchain interaction capabilities for large language models.
The article guides readers to build a simple Web3 MCP service using nodejs+typescript to better understand the working principles and best practices of MCP.
Meta acquires nearly half of Scale AI’s equity at a sky-high price. How can Web3 AI get rid of bias?
Data labeling is a more valuable track than decentralized computing power aggregation. The success of Scale AI exposes an overlooked truth: computing power is no longer scarce, model architectures tend to be homogenized, and what really determines the upper limit of AI intelligence is the carefully tuned data. What Meta bought at a sky-high price was not an outsourcing company, but the oil mining rights in the AI era. Both Web3 AI and Web2 AI have gone from volume computing power to the crossroads of volume data quality.
Hot Topics of the Week
In the past week, BTC broke through the $110,000 mark again in the short term; military conflict broke out between Israel and Iran , hitting the crypto market hard; Trump’s birthday parade will be held on Saturday, and 2,000 cities across the United States will simultaneously erupt in “no king” protests ; international oil prices have seen the largest single-day increase in years; CoinDesk’s parent company Bullish has secretly submitted an IPO application ( interpretation );
In addition, in terms of policies and macro markets, the replacement amendment to the CLARITY Act, a bill clarifying the U.S. digital asset market, has been released; the chairman of the U.S. SEC said that an innovation exemption policy is being formulated for DeFi platforms ; the GENIUS stablecoin bill has been voted through by the U.S. Senate ; the SEC officially abolished the harsh proposals against DeFi and custody proposed during the Gary Gensler era; the U.S. Internal Revenue Service may identify Metaplanet as a passive foreign investment company ; the new president of South Korea fulfilled his campaign promise and gave the green light to the issuance of stablecoins ; the Prime Minister of Japan plans to propose a joint response to North Koreas theft of crypto assets at the G7 summit;
In terms of opinions and voices, Musk: I regret some posts about US President Trump published last week . The content of the posts was too much. Trump declared the end of the relationship ; Vance: I hope Musk can return ; Trump: It is not enough to create a strategic reserve of Bitcoin. The United States also needs a clear and simple encryption market framework ; Uber CEO : Bitcoin is a proven commodity, and stablecoins can facilitate international transactions; James Wynn: He has contacted HyperLiquid twice in the hope of reaching a cooperation. When CZ launches the dark pool perpetual contract DEX, HyperLiquid will be terminated ; James Wynn has changed from a giant whale to an ant ; The vice president of OCEAN mining pool announced that he would liquidate Bitcoin and exit the industry due to the change of OP_RETURN; The founder of LD Capital: About 5 billion US dollars of ETH short orders may lead to a short squeeze, and Ethereum is expected to reach 3,000 US dollars ; ARK Invest: Stablecoins will become the most resilient financial ally of the US government ; VanEck Investment manager: Altcoins are still seriously overvalued , and the future trend is in tokenized equity; Kong Jianping: Hangzhou Public Security Bureau has not launched special operations against blockchain practitioners; Many crypto industry KOLs and project official X accounts have been frozen one after another , and the reason is still unclear;
In terms of institutions, large companies and leading projects, SharpLink Gaming fell by 66.34% ; Walmart and Amazon are planning to issue their own stablecoins ; Ant International responded to the application for a stablecoin license in Hong Kong: submit as soon as possible after the relevant channel is opened; Ethereum developers and foundation directors had a dispute , and EF was accused of offering $5 million to divest the Geth development team ( interpretation ); Plasmas first round of deposit quota was quickly filled and then opened another $500 million;
According to the Forbes Rich List: CZ once again became the richest Chinese , with assets of $65.7 billion;
On the security front, Alex Protocol suffered a loss of $8.3 million in an attack and promised full compensation... Well, its been another week of ups and downs.
Attached is a portal to the “Weekly Editor’s Picks” series.
See you next time~
