The situation in the Middle East is tense again, with news of blockades in the Strait of Hormuz, and geopolitical risk premiums might be creeping back into the market's radar. At the same time, HTX announced it will delist the Trump-related stablecoin USD1, citing that its associated project, World Liberty Financial, has frozen the exchange's related addresses, sparking further scrutiny from the community regarding compliance and project background.
Market sentiment is showing signs of recovery, with on-chain activity rebounding for several days in a row. The trading volume on the leading NFT platform OpenSea remains at a recent high, indicating that some funds are starting to flow back into the Web3 ecosystem.
Structurally, current funds are leaning towards sectors with real backing. Compared to short-term hype, the value of foundational infrastructure is being reassessed—especially Layer2 scaling solutions and decentralized oracles, which form the technical prerequisites for large-scale application rollouts.
These types of infrastructure projects not only cater to the demand for cross-chain transactions, data, and assets but are also continuously proving their sustainability through real revenue and protocol upgrades. In an environment of heightened market volatility, this 'hardcore' attribute is more likely to attract long-term capital.
HTX's delisting move also serves as a reminder: even if backed by political or celebrity names, assets can quickly lose market trust due to single-point risks if they lack transparency and liquidity guarantees.
Overall, the market is shifting from an emotion-driven phase to one focused on value selection. While there may be short-term geopolitical disturbances, the on-chain fundamentals and technological advancements will be key to determining the depth of the next market wave.
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