Recently, the stablecoin market has continued to flourish, with Tether performing outstandingly in the first half of this year. It is reported that Tether issued an additional 6 billion USDT in July, with profits reaching 5.7 billion USD in the first half of the year. Currently, Tether holds US Treasury securities worth 127 billion USD, and its total Circulating Supply has risen from 137 billion at the beginning of the year to 157 billion, with an increase of about 20 billion.

However, the regulatory environment is changing. In Hong Kong, the number of licensed stablecoin issuers may be reduced to 3-4, indicating a more cautious regulatory attitude. Meanwhile, Chinese banks have shown strong interest in entering this field.

Industry insiders point out that China still has shortcomings in the global public chain field. They suggest that central enterprises and state-owned enterprises should lead the construction of a national-level backbone network while opening up competition at the industry level. This initiative may signal that the domestic blockchain industry is about to迎来一波发展浪潮.

The Ethereum ecosystem is also showing positive signals. Bitmine currently holds 625,000 ETH, with a goal of controlling 5% of the supply. Analyst Tom Lee is optimistic about Ethereum's prospects, predicting that its price could reach $15,000.

With the interconnected development of stablecoins and public chains, the Asian DeFi market is showing great potential. Investors and entrepreneurs are closely watching the Hong Kong market, seeking new development opportunities. In this rapidly changing environment, timely grasping market trends and policy directions will be the key to success.