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The article analyzes the impact mechanism of tariffs, including basic layers such as fiscal revenue, efficiency loss, inflation differentiation, and industry protection, as well as deeper impacts like national policy countermeasures, Exchange Rate, and dynamic adjustments of monetary policy. The article points out that global imbalances require drastic adjustments, and the long-term effects depend on market trust and national competitiveness. It also explores the debt dependency issue brought by the privilege of the US dollar and predicts that China and the US may reach a currency agreement through non-market means, triggering complex policy responses.

The article mentions the recent issuance of tokens by multiple projects within the Berachain ecosystem. It emphasizes that the timing of token issuance is crucial and that teams should not blindly issue coins, but rather focus on product-market fit and growth. It warns that a fall in token prices could harm the product's image and user adoption rates. The author suggests that teams avoid competing at the same time, ensure reasonable valuations, and concentrate on long-term value. The author supports Berachain's development but stresses that success requires patience and strategy, recommending that teams prioritize ensuring profitability and user growth.

The crypto industry is currently showing a trend of lackluster development and a lack of real innovation. The article proposes that the combination of energy, cutting-edge technology, and stablecoins can promote the development of the crypto industry to a higher level. The authors believe that the crypto space needs to create products that truly solve macro problems, combining core features such as incentives, asset liquidity, and seamless transfers. This tripartite combination can stimulate new products and incentive mechanisms to drive the progress of the industry.

April 2, 2025, is destined to become a key node in the global financial markets. U.S. President Trump is expected to announce corresponding tariff measures at 3 PM on Wednesday (3:00 AM Beijing time the next day) in the White House Rose Garden.

Due to concerns over the imposition of tariffs, U.S. stocks plummeted on March 28, with technology stocks leading the decline. The market capitalization of the seven major tech giants (including Apple, Microsoft, Amazon, etc.) evaporated by approximately $505 billion, and the Philadelphia Semiconductor Index fell by 2.95%. This marks the largest single-day decline since the U.S. stock market crash on March 10, indicating a severe adjustment at the end of the first quarter of 2025.

In the cryptocurrency market, Bitcoin dropped from $84,000 on the afternoon of March 29 to $81,644 over 8 hours, a decrease of more than 3%, and then on March 3

Current Situation in the Crypto World: The market atmosphere has become alienated, the three major pillars have collapsed, and the crypto world is left with only the business of selling coins. Entrepreneurs have vanished, the market has become homogenized, and a resource club interest community has formed. Profit-taking has become a destiny, and cyclical forces will rebuild the market. The future may be bright, but the long road ahead is uncertain. [原文链接]

Zero-sum attention game

In 2021, each cryptocurrency asset had an average of about 1.8 million dollars in stablecoin liquidity. However, by March 2025, this figure had plummeted to just 5,500 dollars.


This chart intuitively shows the decline of the average value, while also reflecting the nature of the zero-sum game of attention in today's cryptocurrency space. Despite the number of tokens having surged to over 40 million assets, stability

The regulatory challenges of stablecoins are similar to those faced by money market funds (MMFs) half a century ago. Despite criticism and regulatory reforms, MMFs now have assets exceeding $7.2 trillion. Stablecoins may face similar challenges but could ultimately become an important part of the financial system.