Big News Alert
This time, Wall Street's derivatives cash register opened even before the Fed started printing money, as Binance has launched the $BTC / $USD1 perpetual contract.
$USD1 is the official stablecoin created after the president stepped down. If we only look at it from the perspective of on-chain transfers, it's basically just an empty promise and doesn't hold much real significance. What really matters is what kind of 'pricing anchor' can be found in the mainstream liquidity pool.
With the launch of the Binance contract, it’s taking on the roles of pricing, margin, and collateral all at once, like building a load-bearing wall in the deepest waters of on-chain finance.
With a 99.99% collateral grade, being able to secure this number in a unified account changes the game. It indicates that the credit of $USD1 is now equivalent to native USD or prime staked blue-chip assets, moving away from the wild west days of the crypto scene to a standard 'old money shell game.'
The logic I wrote about yesterday is now complete, closing the causal chain:
▫️ Blue-chip assets from the U.S. stock market are tokenizing and competing for liquidity, raising the entire baseline on-chain.
▫️ On the positive side, it keeps money on-chain, while on the negative side, it further forces grassroots native projects into a corner for financing.
The current move with $USD1 is essentially placing the cash register in the most prominent position on this elevated baseline. Looking ahead, the gap between on-chain native assets and compliant assets will only shrink, and investors' judgment of value anchors will fundamentally shift with the entrance of these institutional players.
In the past, retail traders often searched for that one in a million certainty in Meme PVP, hoping to strike it rich through luck and timing.
Now, looking back, those who truly control the wealth direction in the secondary market are rarely the so-called retail traders but rather the market makers who have already allocated chips and paved the way for compliance in the primary market.
The policy dividends from nation-building and the upward spiral of $USD1's asset scale are the macro Beta factors that will be hardest to avoid in the coming months.
This financial restructuring based on macro national policy is reshaping the rules of the game for this cycle.
The table hasn’t been cleared; it’s just a new dealer.
As for what comes next, the next cycle will speak for itself.
🔅 Reminder: Bybit has launched a ridiculous $USD1 product with a 20% annualized return. You might want to check it out.
#USD1 #WLFI
This time, Wall Street's derivatives cash register opened even before the Fed started printing money, as Binance has launched the $BTC / $USD1 perpetual contract.
$USD1 is the official stablecoin created after the president stepped down. If we only look at it from the perspective of on-chain transfers, it's basically just an empty promise and doesn't hold much real significance. What really matters is what kind of 'pricing anchor' can be found in the mainstream liquidity pool.
With the launch of the Binance contract, it’s taking on the roles of pricing, margin, and collateral all at once, like building a load-bearing wall in the deepest waters of on-chain finance.
With a 99.99% collateral grade, being able to secure this number in a unified account changes the game. It indicates that the credit of $USD1 is now equivalent to native USD or prime staked blue-chip assets, moving away from the wild west days of the crypto scene to a standard 'old money shell game.'
The logic I wrote about yesterday is now complete, closing the causal chain:
▫️ Blue-chip assets from the U.S. stock market are tokenizing and competing for liquidity, raising the entire baseline on-chain.
▫️ On the positive side, it keeps money on-chain, while on the negative side, it further forces grassroots native projects into a corner for financing.
The current move with $USD1 is essentially placing the cash register in the most prominent position on this elevated baseline. Looking ahead, the gap between on-chain native assets and compliant assets will only shrink, and investors' judgment of value anchors will fundamentally shift with the entrance of these institutional players.
In the past, retail traders often searched for that one in a million certainty in Meme PVP, hoping to strike it rich through luck and timing.
Now, looking back, those who truly control the wealth direction in the secondary market are rarely the so-called retail traders but rather the market makers who have already allocated chips and paved the way for compliance in the primary market.
The policy dividends from nation-building and the upward spiral of $USD1's asset scale are the macro Beta factors that will be hardest to avoid in the coming months.
This financial restructuring based on macro national policy is reshaping the rules of the game for this cycle.
The table hasn’t been cleared; it’s just a new dealer.
As for what comes next, the next cycle will speak for itself.
🔅 Reminder: Bybit has launched a ridiculous $USD1 product with a 20% annualized return. You might want to check it out.
#USD1 #WLFI