Recently, I’ve been seeing a lot of interesting news, and it feels like both the crypto and tech circles are undergoing changes. Doubao has officially announced its paid version, with three subscription tiers of 68, 200, and 500. It looks like the “free era” of large models really is coming to an end—complex tasks now require payment before you can use them. Daily token usage has also surpassed 1.2 million billion, and this scale definitely needs paid support to cover the computing cost.

Even more interesting is the “Germany rise” happening in Korea. SK Hynix’s stock price jumped 12.5%, and its market cap first exceeded 1,000 trillion won. The Korean Composite Index also hit an all-time high. At the same time, I heard that Payward has completed its acquisition of Bitnomial, obtained full derivative licensing from the US CFTC, and also revealed that it previously received a $200 million investment from Deutsche Börse Group, which is currently in preparation for an IPO. It feels like the combination of traditional finance and crypto is getting closer and closer.

In addition, Bitcoin spot ETFs saw another net inflow of $154 million last week, marking five consecutive weeks of net inflows. BlackRock’s IBIT has already accumulated total net inflows of $65.5 billion. The monthly spending volume of crypto payment cards has also risen to $600 million: 90% of transactions are completed via Visa, and the Solana ecosystem contributed $348 million in transaction volume. These data all seem to be saying one thing—crypto is moving from the fringe into the mainstream.

However, next week, a number of tokens are scheduled to unlock, including ENA, OPN, and RED. There will be large unlock amounts. The value of ENA’s unlock is about $17.3 million, so it’s worth paying attention to how the market reacts.