XiaoTong Column

Trump’s executive order opens a “trillion-dollar door” for crypto. But full implementation depends on Labor Department and SEC detail, which could take months or years. For investors, tracking regulatory progress and institutional money flows is now critical.

After all, this isn’t just a “cash feast”—it might be crypto’s historic turn from “niche hobby” to a key piece of the mainstream financial puzzle.

The Alpenglow upgrade and ICM roadmap show Solana’s决心 to become an ‘on-chain Nasdaq’, while its AI ecosystem—from early explore to infrastructure deepening—has built solid projects and tech. As Solana Foundation President Lily Liu stated: ‘Solana’s greatest strength is its versatility, hosting multiple app types and sectors.’
With Alpenglow enhancing performance,Solana may yet balance ‘on-chain Nasdaq’ and AI narratives. But the race is just beginning—only time will tell.

Competition among meme launchpads will continue—pump.fun relies on ecosystem token recovery, Letsbonk.fun holds onto new token territory, and new players try to break through with ‘narrative innovation’. But everyone faces the same challenge: how to restore market confidence in meme coins?

Diem’s ‘central bank dream’ died, but Meta’s stablecoin ambition lives on in a new form. Regulators made it clear: ‘Stablecoins can be issued, but not by you.’ But if a platform controls capital flow, accounts, and data—Is it a tool provider, or a new generation of clearinghouse?

The pink hat’s auction may be WIF’s last gasp. Its story mirrors a harsh reality: In crypto’s attention economy, meme coins live or die not by code, but by relevance.
Price up? Community party, KOL love. Price down? Infighting, desertion, death spirals. The only escape? Multi-dimensional vitality—don’t depend on one person’s tweets or a single event.