TradFi has indeed gone viral. When it comes to pre market pricing of the new US stock Solana: 4yEjcMiy6GAgrpWpUvhUXfaP1vQmJXfqJjEyxBSZpump, xyz @ tradexyz surprisingly became a reference for outsiders in the industry S @ ershokunin mentioned that the person in the photo is GP @ ericvishria of Benchmark @ benchmark. As the top VC in Silicon Valley (having invested in Uber, Twitter, and now heavily invested in AI infrastructure such as Cerebras), Benchmark's attention to xyz illustrates one thing: the impact of the cryptocurrency industry on pre-market pricing in the US stock market is no longer just a matter of hype, but a reality that is happening There have been many discussions about XYZ airdrops and coin issuance recently, but I tend to believe that there is no need for XYZ to issue coins. Looking at the current trading chart of Binance, it is a trend for TradFi assets to dominate. Since funds are moving towards traditional assets, why would xyz issue a new token asset to divert existing Hype? It's already 2026, don't use traditional airdrops anymore. Simply relying on mechanical interaction for airdrops is not cost-effective in terms of time and wear and tear costs; Instead of blindly brushing volume, it's better to simply trade and set rates. This is the logic behind making real money and silver To take a step back, even if xyz doesn't issue coins, should we not use them? After actual testing, its liquidity and trading depth are indeed significantly ahead of other PerpDEX - elsewhere, OI has only a few tens of thousands of targets, but here it can reach several hundred or even tens of millions, even better than the stock liquidity of some CEX main stations. In addition, some CEX will face hidden concerns about CRS data compliance after 2027, and depositing assets and profits on the chain with large funds is bound to be the main direction. Otherwise, Binance would not have put so much effort into the Web3 wallet I didn't heavily bet on HYPE before, and I wasn't even very optimistic about it, mainly because I thought it hadn't crossed the full cycle and its valuation was pulling too fast. But the fact proves that things are dynamically developing. When the tide recedes, it is found that there is indeed a scarcity of on chain applications that can truly be used. There is no need to objectively argue with the market 。 However, good assets also need to be matched with good prices. The bear market exclusive to cryptocurrencies will continue, and buying slowly can lead to long-term gains. The core is to patiently build positions and find targets that can cross cycles As for the competitors, I currently only use unperformed PERPDEX to receive airdrop offset fees. However, Aster, which has already issued coins, faces significant challenges in its logic as xyz runs through its current version (no longer a pure on chain percdex). Just think of two questions: Will Wall Street use Pre IPO data on Aster as a benchmark reference? Is its actual business volume sufficient to support its narrative? If we still heavily hoard large market value assets like Atom or Polkadot that have not yet been verified for their real needs, we may feel a sense of powerlessness like we did with Atom or Polkadot back then