The focus today is not on macro, but on the information brought by Robinhood and xStocks. Although it has little impact on short-term prices, the track of on chain securities firms has been completely opened up, which is the direction that long-term funds will truly pay attention to. Although XStocks is not compliant in the United States and does not support trading for American users, it provides a path to directly buy US stocks with stablecoins, which is a very practical channel for some funds. Another friend asked why MSTR rose 5.3% today. My personal guess is that this round of rise is more like the funds flowing out of the CRCL and COIN stage market returning to MSTR, after all, MSTR is the true representative of Bitcoin in the US stock market. Meanwhile, seeing Circle apply for a National Trust Bank license in the United States is a significant benefit for CRCL, provided that it is approved. This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex