Aster ignites the wave of derivatives DEX; the stablecoin public chain Plasma officially launches; the crypto market faces "Black Monday."

PANews Editor's Note: PANews has selected high-quality content from the week to help everyone fill in the gaps during the weekend. Click on the titles to read.

Perp DEX Craze

Old and New Competitors in Perp DEX: Hyperliquid Faces $10 Billion Unlock Pressure, New Platforms Like Aster and Lighter Quickly Rise with Incentives

Currently, the competition in the Perp DEX space is intense. The leading platform Hyperliquid is about to face a $10 billion token unlock pressure, while new platforms like Aster and Lighter are rapidly emerging through incentive mechanisms, presenting a market landscape that is highly concentrated but accelerating in differentiation.

Aster on the Edge: How Much Value Does It Hold?

ASTER surged 400% this week; can it truly challenge Hyperliquid's top position?

Is the Prosperity of Perp DEX an Illusion? Unveiling the "Emperor's New Clothes" of Hyperliquid and Aster's Sustainability Challenges

"I don't believe that the success model of HyperliquidX, Aster's wealth creation effect, and Lighter's farming craze are sufficient indicators to determine the sustainability of the Perp DEX narrative."

Looking for the Next Aster: A Review of 5 High-Income Perp DEXs Yet to Issue Tokens

Missed Aster? Check out these super profitable Perp DEXs that have yet to issue tokens.

7 Billion Dollar Airdrop in the Last 11 Days: Detailed Analysis of Aster's Arbitrage Strategies and Fleet Tactics

How should Aster S2 best utilize the $7 billion airdrop?

Perp DEX is Hot: These Tools Can Help You Seize Opportunities

To participate more efficiently in the Perp DEX craze, auxiliary tools have become essential for many players.

Macroeconomic Perspective

1.7 Billion Liquidations Set a New Yearly High: Crypto Market Faces Black Monday

The total liquidated contracts across the network reached $1.7 billion in 24 hours, setting a new yearly high, with long positions accounting for $1.617 billion.

2026: The Crypto Market Moves Towards an Institutionally Led "Slow Bull" Phase

As institutional capital flows, disciplined venture capital behavior, and policy-driven liquidity shifts intertwine, 2026 may become a critical turning point for the crypto market, transitioning from wild fluctuations to global systemic correlations.

Arthur Hayes' Full Speech at KBW: The U.S. Will Print Money Madly for War, Propelling Bitcoin into the Million Dollar Era

Comparing Bitcoin's price increase during the pandemic with the scale of credit expansion during the same period, by 2028, the price of one Bitcoin could be $3.4 million.

After $1.7 Billion in Liquidations, Is the Crypto Market Over?

Seasonality itself does not drive the market, but when combined with a healthier derivatives structure, it could increase the probability of recovery after the severe fluctuations in September.

Opinions from Influencers: After Rate Cuts, Is a Major Correction Happening? Is the Crypto Bull Market Over?

A week after the rate cut, Powell speaks again; what will happen next in the market?

Hong Kong RWA Ecosystem Overview: With Three Parties in Place, Who Will Dominate the Trillion Dollar Track?

The Hong Kong RWA market remains hot, with regulatory guidance cooling down brokerages but concept stocks still rising. Huajian Medical and Chuangsheng Group signed a $1.5 billion innovative drug RWA tokenization agreement, with a market value increase of HKD 14 billion in two months. The market encompasses three major ecological niches: liquidity providers, technology support, and service support, accelerating the development of traditional finance and crypto institutions.

From "Litigation Storm" to "Innovation Exemption": A Historic Turning Point for U.S. Crypto Regulation

Current SEC Chair Paul Atkins is pushing for a regulatory revolution: shifting from strict enforcement to an "innovation exemption" framework, withdrawing lawsuits, initiating dialogue, balancing investor protection with technological innovation, which is expected to accelerate the approval of spot ETFs and attract institutional capital into the crypto market.

Seizing Opportunities

One of the Largest Airdrops in History? In-Depth Analysis of the Opportunities and Concerns Behind the MetaMask Token

A large user base, continuous revenue, clear utility, and market speculation every four years may make MetaMask a historic airdrop.

Earnings Comparable to Part-Time Jobs: Latest Binance Alpha Practical Strategies

You contribute to Binance, and Binance offers you a part-time job; while it may not make you rich, it can still provide a considerable cash flow.

Variant Investment Partner: Interpreting 4 Highly Potential Crypto Trends

Stablecoins, prediction markets, tokenized equity, and new ways to earn online.

Is OpenSea's Upcoming TGE Worth Participating In?

OpenSea is about to launch its TGE, with details to be announced in early October.

Exploring the Top Wall Street VC Founders Fund Behind Plasma: What Other Airdrop Opportunities Do They Have?

In a market fatigued by fleeting MEME narratives and beginning to seek sustainable value, Founders Fund's investment script offers a clear, validated path.

Web3 Matters

Plasma's Market Cap Exceeds $10 Billion on Launch Day: The Impact of Luxurious "Pork Rice" Marketing

Plasma staged a textbook-level launch, achieving a "Grand Slam" debut on exchanges while employing a "big giveaway" strategy for pre-sales and the community, maximizing its hype.

Andrew Kang's Long Article Critiques Tom Lee: 5 Reasons for Being Bullish on ETH Are Quite "Foolish"

Come on, being bullish on ETH is fine, but please don't be so "foolish."

Tether's Valuation Soars Over 40 Times: $500 Billion Valuation Hides Capital and Narrative Ambitions

Tether plans to raise funds at a $500 billion valuation, with its valuation skyrocketing 40 times in a year, potentially setting a record for the largest single financing in the crypto industry. The high valuation seeking capital injection not only strongly proves its profitability but also shapes market narratives through capital operations, paving the way for future business expansion and market development.

Over $100 Million Evaporated in Two Days: UXLINK and SFUND Suffered Consecutive Hacker Attacks; How to Prevent Dark Arrows in the Crypto Dark Forest?

In two days, two seemingly unrelated projects lost over $100 million in market value due to precise hacker strikes. This prompts every practitioner and investor to once again reflect: beyond the volatile market cycles, are the security vulnerabilities lurking in the depths of code the sharpest sword of Damocles hanging over the crypto world?

Talking the Talk but Not Walking the Walk: A Review of Arthur Hayes' Market Timing Records

You can't trust what he says, but you really should learn from his actions.

Vitalik's New Work: How Low-Risk DeFi Can Become Ethereum's "Search Business"?

"I've come clean; I was previously forced by circumstances, but now I am very optimistic about DeFi and want to make money from it."

Messari Research Report: What Does the Prediction Market Need to Truly Explode?

From elections to everything being collateralized, the prediction market is about to explode.

88% of Airdropped Tokens "Die" Within 3 Months

Past large-scale token distributions have proven that the real value is not in the tokens themselves, but in the user behaviors they can leverage.

Binance Alpha Bull Market: A One-Sided Game Dominated by Market Makers

This article will break down the market makers' strategies in initial offerings, including their accumulation, distribution, and arbitrage logic, and summarize the key signals retail investors should pay attention to when dancing with the whales in the Alpha bull market.

Scaling and Security in Parallel: A Comprehensive Analysis of Ethereum's Fusaka Upgrade and 12 EIPs

The Ethereum Fusaka upgrade is scheduled for the end of 2025 and will enhance the network's "scalability and security" through 12 core EIPs. How will these "invisible" underlying improvements significantly reduce L2 costs and safeguard trillions of dollars in assets? This article will explain everything you need to know about Ethereum's next move.