Southeast Asia Crypto Assets Market Risk Analysis Report
In recent years, the acceptance and popularity of Crypto Assets in Southeast Asia have significantly increased. To gain a deeper understanding of the on-chain capital flow characteristics, potential financial risks, and connections with illegal industries in the region, this report conducts an in-depth analysis based on a sample of 10,000 blockchain addresses extracted from 2020 to the present. By tracking and labeling the flow paths of different types of risk funds, we found that the level of risk involved in the circulation patterns of Crypto Assets exceeded expectations.
Characteristics of the Southeast Asian Crypto Assets Market
1. Rapid user growth: Southeast Asia has a high proportion of young people and widespread mobile internet access, leading to a rapid increase in the number of Crypto Assets users in the region, with an estimated tens of millions of users.
2. Strong demand for cross-border payments: The region has a large number of cross-border workers, and Crypto Assets provide a convenient means for cross-border payments, thus they are widely used.
3. Regulatory environment varies: Southeast Asian countries have different approaches to virtual

Gitcoin is an Open Source platform based on Ethereum, aimed at providing funding support for developers and projects, encouraging community participation. Through a quadratic funding mechanism and DAO governance, Gitcoin has allocated $50 million to promote the development of Open Source projects and will continue to explore new models to connect the digital and the real in the future.

Monad: A new generation attestation compatible EVM Layer 1 Blockchain
Monad is an emerging attestation ( PoS ) Blockchain project, fully compatible with the Ethereum Virtual Machine ( EVM ). The project aims to significantly enhance blockchain performance through technological innovation, bringing improvements to the entire Ethereum ecosystem.
The main feature of Monad is its algorithm optimization for virtual machine design and consensus mechanism, allowing its throughput to reach 10,000 smart contract transactions per second (tps), far exceeding existing smart contract platforms. This performance improvement is mainly attributed to several technological innovations in the following aspects:
1. MonadBFT: A high-performance consensus mechanism improved based on HotStuff, capable of efficiently achieving transaction ordering consensus in a Byzantine environment.
2. Delayed execution: decouple execution from consensus to increase the flexibility of validation nodes.
3. Parallel execution: Use 乐

Memeapp combines AI and Crypto to generate interactive front-ends through simple descriptions, dropping the application development threshold. It addresses the cold start problem and protects creator rights, with the potential to develop into a powerful APP Coin platform in the future, driving industry innovation and rise.

The current market sentiment is increasingly fearful, with expectations of interest rate cuts declining. DeFi has seen its first negative growth, but the market capitalization of stablecoins continues to rise. The AI Agent sector is leading market development, and investors are leaning towards infrastructure projects. Public chains are performing relatively steadily, becoming a safe haven choice, while the overall market faces liquidity risks, suggesting a defensive investment strategy.

In the future, the stablecoin market will form a diversified pattern, with USDT and USDC dominating the offshore and compliance sectors respectively. Emerging mid-tail stablecoins will emerge, covering products from traditional enterprises and Decentralization companies, meeting specific market demands and promoting sustainable market development.

This article explores the feasibility and impact of introducing coupons into the NFT market. Coupons can effectively promote projects during the NFT issuance phase, but careful evaluation of cost and benefits is necessary during the Secondary Market trading phase. In the future, as the market matures, there may be new breakthroughs in the application of coupons, and the project party and platform need to flexibly adjust their strategies and follow legal compliance.

"Coin Stocks" Become Popular Targets in Global Stock Markets, Full Analysis of 44 Major Players' Layouts
Cryptographic assets are sweeping the global capital markets. From trading platform giants to corporate Bitcoin buyers, and to mining companies and on-chain financial entities, more and more listed companies are leveraging cryptographic assets and blockchain technology as a new narrative engine to drive up stock prices.
To reveal the capital logic and development trends behind this wave, we conducted an in-depth analysis of 44 representative listed companies worldwide and summarized five key tracks based on their core cryptocurrency business attributes:
- Cryptocurrency Trading Platform: The Core Hub of the Market
- Stablecoin issuers: The bridge connecting traditional and crypto
- Crypto asset heavyweights: "Digital Gold" on the balance sheet
- Blockchain Technology and DeFi Pioneer: Building the Future Financial Infrastructure
- Crypto Mining Enterprises: Guardians of Hashrate and Value
This article will analyze the representatives of the five major factions one by one.

The scale of "Rug Pull" scams in the crypto assets market is enormous, with hundreds of new fraudulent tokens launched annually, resulting in losses for 7.05 million investors. Hard Rug Pulls quickly withdraw funds, while soft Rug Pulls gradually erode liquidity. Investors should be cautious of high return promises, anonymous projects, and abnormal price fluctuations to protect their rights.

Tokenization of real assets: the next development direction of Decentralized Finance
The original intention of cryptocurrency is to create a more transparent, convenient, and efficient global economic system, rather than merely engaging in short-term speculation. However, most current cryptocurrency narratives remain limited to on-chain, with few practical applications for ordinary users. There is enormous potential in traditional markets waiting for the disruption of blockchain technology, and the opportunity to systematically improve the global economy is real.
The emergence of Decentralized Finance ( DeFi ) has unleashed the potential of blockchain. DeFi applications feature atomic settlement, low costs, high transparency, composability, and user control. Typical DeFi applications include payments, synthetic assets, trading, asset management, lending, insurance, and derivatives.
Despite the many benefits that DeFi has brought, its main limitation lies in the fact that most DeFi currently constitutes a closed economic system with limited connection to the traditional economy. The speed of DeFi

Ethereum Pectra upgrade Blob market analysis: L2 costs have significantly decreased, and node pressure has increased.
On May 7, 2025, Ethereum completed the Pectra upgrade, implementing a series of improvement proposals, including an increase in the target and maximum blob count per block. This update had a significant impact on the blob market, rollups, Ethereum validators, and the supply of ETH.
Main Findings
- Within the first five trading days after the launch of Pectra, the number of blobs purchased daily through rollup increased from approximately 21,200 to 25,600, but the average number of blobs per block is still 33% lower than the new target value of 6.
- Due to the actual blob usage being far below the updated target value, blobs have almost become free. The fees paid for blobs by the rollup each day are less than one-thousandth of a cent, since Pectra.

This week, the sentiment in the crypto market is sluggish, with the market capitalization of stablecoins rising and Decentralized Finance performing well. Trump's cryptocurrency policy has failed to boost the market, and Meme coins are highly speculative. Solana and Tron have performed outstandingly, and the market will focus on the Fed meeting and policy trends in the future.

Last week, there were 13 funding events in the global Blockchain field, with a total amount exceeding 137 million USD, which is a decrease compared to the previous week. Multiple companies in fields such as Decentralized Finance, Web3+AI received funding to advance related projects and technology development, including educational financing, privacy Blockchains, and the construction of payment ecosystems. At the same time, the crypto venture capital firm dao5 successfully raised 222 million USD.

Crypto Assets are developing rapidly in Asia, and investors are optimistic about stablecoins, AI, and regulatory policies. Recent activities have intensified the follow on investment opportunities, and everyone hopes to leverage technology to solve real problems and promote the construction and development of applications.

ZKasino announced the launch of the ETH bridge refund process, but the community is skeptical about its legitimacy. Although the platform had previously attracted about $33.2 million in ETH, it has recently faced scrutiny due to the refund process and overdue stake rewards, as well as a lack of a clear refund timeline. Coupled with legal issues and investor doubts, the community is looking forward to further developments.

Recently, a symposium focusing on the development of Hong Kong's digital economy was held in Wuhan. The meeting brought together business representatives from Wuhan and Hong Kong to discuss the current situation of Hong Kong's digital economy, the policy environment, and the transformation opportunities for mainland enterprises in the post-pandemic period. Participants engaged in in-depth discussions on the development trends and prospects of Hong Kong's digital economy, providing new ideas for mainland enterprises regarding industrial layout and resource allocation.
Since the beginning of 2023, various industries in Hong Kong have shown signs of accelerated recovery. Not only have traditional industries such as tourism and retail noticeably rebounded, but the development of the financial sector has also received strong support from the SAR government. From the introduction of policies related to virtual assets to the optimization of listing rules on the Hong Kong Stock Exchange, and a series of measures to attract technology talent and innovative enterprises, all demonstrate the determination of this international financial center to regain its former glory.
With the continuous evolution of the global economic landscape and technology, the digital economy and financial technology have gradually become the high ground for financial innovation and competition in the new era.

The Stacks ecosystem is attracting follow through the Satoshi Nakamoto upgrade, which will transform it into a Bitcoin second layer in the future. Although recent attention has declined, the upgrade will improve transaction efficiency, promote the development of the sBTC and NFT markets, and has the potential to enhance the market valuation and application of STX.

In the past week, the DeFi industry has seen a surge in stablecoins, with projects like Ethena and Usual standing out. At the same time, the superchain ecosystem is continuously expanding, with the addition of the Ink network marking the trend of compliance exchanges having their own Layer 2 networks. Several mature projects are continuously innovating, driving ecological development, signaling the prosperity and vitality of the DeFi field.