Russia's Central Bank gold and forex reserves as of the week of July 25

1. Market Overview 1.1 Fundamentals of the Cryptocurrency Market The total market capitalization of the cryptocurrency market in 2024 increased from $2.31 trillion to $3.33 trillion, a growth rate of 44.2%. This is mainly attributed to the approval of spot Bitcoin ETFs and favorable factors such as Trump's victory in the election. Bitcoin's dominance rose to 56.8%, primarily due to institutional investors' enthusiasm for Bitcoin ETFs. Despite the launch of the Ethereum ETF, its performance has been relatively flat. Solana performed remarkably well, with SOL price increasing by 29.3% and a net inflow of $2 billion into its ecosystem. The DeFi market share continues to expand, with the total locked value doubling. The DEX/CEX trading volume ratio has increased to 11.05%, with an annual trading volume reaching $2.67 trillion. Solana and Base in DeFi

Abstract Chain Panorama Analysis: How to Build a Public Chain Ecosystem for End Users? Summary Abstract Chain will be launched in January 2025, dedicated to being a user-centric blockchain that promotes the large-scale adoption of cryptographic technology and builds a platform that is easy to access and highly participatory. Abstract Chain brings a comfortable user experience through original account abstraction, leveraging the established fan base of Pudgy Penguins and $PENGU to provide differentiated value through its unique user architecture. The growth strategy of Abstract revolves around creating a digital entertainment theme park: having a dedicated portal platform, integrating live streaming and reward systems, and attracting application developers to join the ecosystem. The live streaming platform has attracted over 10,000 hosts, with users participating for an average of more than 7 hours daily.

Abstract Chain Analysis: How to Build a Consumer-Oriented Public Chain Ecosystem? TL;DR Abstract Chain is a consumer-oriented blockchain launched in January 2025, dedicated to promoting the popularization of cryptographic technology and building a platform that is easy to access and participate in. Abstract Chain offers a seamless user experience through native account abstraction, leveraging the advantages of established Pudgy Penguins and PENGU fan communities to provide differentiated value with a unique user structure. The growth strategy of Abstract revolves around building a digital entertainment theme park: having its own portal platform, integrating live streaming and reward systems, and attracting application developers into the ecosystem. This live streaming platform has attracted over 10,000 broadcasters, with an average daily user participation time exceeding 7 minutes, 30.

Since its launch in 2024, the Kaia public chain has continuously enhanced its technology and ecological construction, becoming a potential project in the South Korean stablecoin market. With the government's support for the Korean won stablecoin policy, Kaia plans to launch a Korean won stablecoin, and the market is full of expectations for its prospects. However, legal obstacles and compliance issues remain to be resolved, and there are many challenges to face in achieving a smooth implementation in the future. At the same time, Kaia is also actively expanding its application ecosystem in areas such as Decentralized Finance and NFT.

Challenges and Opportunities in Game Issuance: How KGeN Redefines User Acquisition 1. Introduction In recent years, the scale of the gaming industry has surpassed that of film and music, but it also faces severe challenges. In 2023-2024, the industry experienced layoffs and consolidation, rising development costs, and reduced investment. Game issuance and distribution have become more difficult, and new projects find it hard to stand out. However, opportunities still exist. The digital native generation will continue to drive market expansion. Emerging markets that have long been neglected are experiencing explosive growth, and are expected to become important increments in the industry over the next decade. This report will explore the latest challenges in game issuance, analyze high-growth opportunities in emerging markets, and focus on KGeN, a blockchain-based gaming platform, assessing its potential to reshape the incentive mechanisms for publishers and players. 2. Challenges Facing Issuance One of the biggest challenges in the current gaming industry is issuance. Changes in consumer habits, regulatory adjustments,