Web3 Weekly Report: The Stablecoin Sector Heats Up, AI and Memes Lead Innovation

The Stablecoin Sector Heats Up

The stablecoin market has been heating up recently, with several companies actively making arrangements. The IPO plan of a well-known payment company has sparked controversy, with some analysts criticizing it for neglecting the cryptocurrency customer base. The three major stablecoins, USDT, USDC, and FRAX, are engaged in fierce competition, each with its own advantages.

The criticism of stablecoins by the CEO of a cross-border payment company has sparked a backlash in the crypto community, highlighting the contradictions between traditional finance and emerging digital currencies. Meanwhile, a Bitcoin financial settlement layer project backed by a stablecoin issuer has secured $500 million in funding, demonstrating market confidence in innovative payment infrastructure.

Yield stablecoin ( YBS ) has become a new hotspot, reconstructing market order through the "yield sharing" mechanism. Multiple potential projects have emerged, bringing new possibilities to crypto finance. The application scenarios of stablecoins are expanding from payments to DeFi and tokenization of real-world assets ( RWA ) and other fields.

Macroscopic Perspective

The Bitcoin network faces a challenge of a sudden drop in transaction volume in June 2025, sparking discussions about the miner revenue model and the community's technical direction. The RWA market experienced explosive growth in the first half of the year, with a total market value exceeding $23 billion, dominated by private credit and U.S. Treasury bonds.

The Bitcoin market is shifting from being retail-driven to institution-driven, with long-term institutional investors accumulating positions. There is a view that Bitcoin, as the first bottom-up monetary system, is challenging the traditional state-led currency issuance model.

The U.S. regulatory stance has shown a positive change. A senior official stated at a roundtable meeting that an innovation exemption framework would help realize the vision of making the U.S. the "global crypto capital."

AI and Meme Trends

The AI Layer 1 track welcomes multiple representative projects, such as Sentient and Sahara AI. The industry discusses the memecoin investment framework, believing that sentiment, belief, and community constitute its "fundamentals." The AI training paradigm is evolving towards decentralized collaboration, demonstrating more openness and resistance to censorship.

A certain tech giant has invested nearly $15 billion to acquire equity in an AI company, raising concerns about data monopolies. The Web3 space is exploring the reconstruction of data mining rules using tokens. Several AI projects recently announced token generation events (TGE) plans, and market enthusiasm continues to rise.

Emerging Opportunities

The Base ecosystem has emerged strongly, with multiple projects achieving 10x growth. The concept of XRPFi has arisen, seen as a new path to activate the XRP ecosystem. The InfoFi sector is heating up, with leading projects performing exceptionally well. The new on-chain advertising model QRcoin has attracted attention, leading to a significant price increase.

A report from a cryptocurrency exchange predicts that in the second half of 2025, the crypto market will be driven by economic growth, corporate adoption, and clearer regulations, showing a positive outlook.

Industry Trends

The Solana spot ETF application has made substantial progress and may be approved as early as July. A well-known project is facing a crisis of trust due to a scandal involving its founder, leading to a significant drop in its coin price. The softening stance of U.S. regulators has spurred a recovery in the DeFi sector.

The cryptocurrency reserves of 28 listed companies have been exposed, with Bitcoin still being the mainstream choice. Singapore is set to tighten crypto regulations, and industry players are faced with choices. The Bitcoin community has shown divergence on the handling of inscription trading issues. A well-known trader's failure case has sparked widespread discussion.

The InfoFi model faces challenges in content quality and reward distribution. A comprehensive analysis of the listing strategies of a leading exchange provides references for project parties and investors. There are rumors that a certain region is conducting investigations into cryptocurrency practitioners, raising concerns.