Preface
In the past 24 hours, Bitcoin and Ethereum have dropped by 5.31% and 11.68%, respectively, with current prices at $77,296 and $1,803, and an ETH/BTC exchange rate of 0.023. The Crypto Fear & Greed Index stands at 24, indicating extreme fear.

Market Trending

On Monday, the cryptocurrency market fell into a deep correction due to policy uncertainty and the decline in U.S. markets. Bitcoin hit a daily low of $76,600, while Ethereum experienced a drop of over 10%, reaching a low of $1751. Altcoins generally fell by about 10%.

President Trump previously announced tariffs on imports from Canada, Mexico, and China, raising concerns about a trade war and economic slowdown. Coupled with his recent denial of an impending recession, all major indices on Wall Street and the “Big Tech” companies saw declines. Tesla’s stock plummeted by 14%, the S&P technology sector fell by 4.2%, and the Nasdaq Composite Index dropped by 4.3%, marking its worst performance since 2022. The inherent sensitivity and volatility of the cryptocurrency market exacerbated these concerns, leading to a more pronounced decline. Bitcoin has now fallen below the 200-day simple moving average (SMA), and the total market capitalization of cryptocurrencies shrank by 7.56% in a single day, evaporating $200 billion in value.

On the other hand, although Trump signed an executive order last Thursday to establish a national strategic Bitcoin and digital asset reserve, the market’s mixed reactions stemmed from the policy of “no incremental purchases.” Subsequently, the White House crypto summit on Friday gathered numerous industry leaders, with the market anticipating more details about the strategic Bitcoin reserve. However, the meeting ultimately failed to deliver substantial policy signals, further undermining investor confidence.

In the altcoin sector, the Meme category suffered the most, with DOGE dropping over 10% in 24 hours to $0.15, TRUMP falling below $10, and WIF declining to $0.43. In the DeFi sector, UNI, LDO, ONDO, and ENS all saw declines exceeding 10%, while SLND and BUZZ experienced drops of over 40%. In the AI sector, VIRTUAL, AI16Z, and PAAL fell by more than 15%, while GRIFFAIN and AIXBT dropped over 20%.

While the market’s immediate reaction to the establishment of a Bitcoin strategic reserve has been negative, it signifies a growing acceptance of cryptocurrencies within mainstream finance, which is expected to attract more institutional investors. As subsequent supporting policies are gradually implemented, the market may enter a new cycle of value reassessment.

Spot Bitcoin ETF Flows

The U.S. spot Bitcoin ETF saw a net outflow of $279.01 million yesterday, with FBTC experiencing a net outflow of $134.04 million, IBIT seeing a net outflow of $89.7 million, and GBTC having a net outflow of $20.6 million.
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Daily Spotlight

Today’s spotlight is LAYER, which has seen a 24-hour increase of 17.92%.

Solayer (LAYER) is a re-staking protocol built on the Solana blockchain, optimizing user capital efficiency and enhancing cross-chain liquidity by integrating revenue sources such as PoS (Proof of Stake), MEV (Maximal Extractable Value), and AVS (Active Validation Services). Its core architecture constructs a capital efficiency-oriented re-staking network within the Solana ecosystem through hardware acceleration, dynamic scaling technology, and the secondary utilization of native staking assets. The project has also launched a hardware acceleration solution, infiniSVM, which leverages FPGA and smart NIC technology to achieve over 160 billion TPS in throughput, significantly breaking through existing blockchain performance bottlenecks.

LAYER has increased by 17.92% in the last 24 hours, currently priced at $0.9109.

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The Word on the Street

President Trump may sign an executive order related to cryptocurrencies this week, aiming to repeal banking restrictions on crypto companies.

According to sources, Trump plans to sign an executive order as early as this week to overturn the Biden administration’s policies that restrict banking services for crypto companies, particularly “Operation Chokepoint 2.0.” Sources indicate that the order may involve the Federal Reserve’s “master account” policy, easing access for crypto banks. However, as an independent entity, the Federal Reserve’s policies are typically not directly influenced by the White House. Additionally, the executive order may cover stablecoin regulation, clarifying that stablecoins should not be classified as securities. Senior White House officials are scheduled to meet on Thursday to assess potential legal obstacles to the executive order before submitting it for Trump’s signature.

Project Airdrop

According to official news, Elixir has launched an ELX airdrop eligibility check website. The official tokenomics has also been released, with the specific allocation plan as follows:

1. Community Allocation 41%: 8% for the first quarter airdrop, 21% for future airdrops and LP incentives, and 12% for public network security rewards. All unlocked tokens are not eligible for staking.
2. Foundation Allocation 22%: For future ecosystem donations and rewards.
3. Liquidity Allocation 3%: Reserved for market makers and other LPs in CEX and DEX.
4. Early Investor Allocation 15%.
5. Core Contributor Allocation 19%.

Elixir, established in 2022, is a liquidity network based on modular DPoS, allowing anyone to provide liquidity directly to the order book, bringing liquidity to long-tail crypto assets and enabling exchanges and protocols to guide their ledger liquidity.

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