The narrative of public chains will not die; it purely depends on how market funds can heat things up through new narratives. Just keep your information sensitivity intact ✨ Shall the old public chains have another dance? 🥸 The competitive chips in the crypto market moving forward are not about which narrative category they originally belonged to, just like how a publicly listed company that was once on the brink of bankruptcy can be reborn by building Bitcoin reserves. Since most market participants are talking based on prices, it actually means that ecosystems that were previously laughed at for being terrible have a greater chance of experiencing a significant rebound. This has been my realization over the past few days 😂 🔴 Sei: Founder scandal, team OTC selling coins, $SEI bottomed at 50% 📈 ⚫️ Aptos: Ecosystem inactivity, founder replaced, $APT bottomed at 30% 📈 These two just happened to ride the wave of WYST: the narrative of the first state government in the U.S. issuing a stablecoin, which has caused these coins to surge. 🟡 Movement: Team controversies, founder stepping down, insufficient OTC, and after the news came out, it didn’t continue to drop. At noon, there was something even more exciting, which is the soaring of Hong Kong's licensed cryptocurrency exchange $HSK and Guotai Junan. You can see that even the second-highest attention @xiaomucrypto is following along, $HSK has almost doubled from the bottom. What I want to say is: there’s really no need to follow the current public opinion direction to criticize how bad each project or ecosystem is. You still need to maintain your own judgment to catch these turning points. The news about WYST stablecoin was probably released about 4 days ago. Compared to the usual second-level news that can only react in 3-5 seconds, there has been several days to digest it. Plus, $APT, $SUI, and $SEI just happen to be part of Circle's investment portfolio, which has also rationalized many of the price increases. This is also why I never care about how much ETH fud discussions there are, because the current fundamentals have not weakened at all. We just need to wait patiently for the moment to shine again. Until then, continuously paying attention to the ecosystem is the best preparation we can do (look at the recent quietly ATH $SYRUP, which was previously mentioned by @day1globalpod as something to watch). You can see that the above several are the hot L1 and L2 narratives from the last cycle, and recently @katana has also quietly ended the deposit period. Who knows, the Polygon army might come up with something big again, but this time I didn’t manage to deposit, what a pity 😅 What will the next chain be? Near has already started releasing news. 1️⃣ The deflation proposal put forward by @hotdao_ is currently underway. → Reducing the maximum inflation rate from 5% to 2.5% (a 50% reduction) → The goal is to burn about 0.1% of the total supply each year through transaction fees. → Expected staking yield set at 4.5%. 2️⃣ Last night, @NEARProtocol's official Twitter quietly announced Kaito... I wonder if this wave of Near will fully utilize the founder's advantages in the AI circle to catch up with the AI agent trend. 3️⃣ On June 23, the official Twitter released a new House of Stake (HoS) roadmap and stated: Don’t sleep on the AI Assistant. I can simply share a few Near ecosystem accounts to watch: @ilblackdragon @meta_pool @hotdao_ @BowenWang18 @AlexAuroraDev. Next, we just need to keep an eye on whether there are any movements in the on-chain data.

The Wyoming Stable Token Commission has placed Aptos as the highest-scoring blockchain candidate for WYST—the first fiat-backed stablecoin issued by a U.S State—tying for 1st place with Solana. WYST will be deployed using @LayerZero_Core.

We’re honored to be chosen by Wyoming as the token issuance partner for WYST, the first fiat-backed and fully-reserved stablecoin issued by a public entity in the United States. There’s no clearer signal of where finance is heading than a U.S. state putting the dollar onchain.