Virtual Asset Ecosystem Undergoing Transformation

According to Odaily, Fu Rao, Executive Director of the Hong Kong International New Economy Research Institute, discussed the evolving virtual asset ecosystem in an article for Ta Kung Pao. He highlighted Vitalik's remarks at TOKEN2049, noting that we are in the early stages of truly usable cryptographic technology, which is gradually maturing and gaining broader application. Notably, the U.S. Federal Reserve's 0.5% interest rate cut, the first since March 2020, was mentioned by Grayscale Research as supportive of both cryptocurrency and traditional market valuations. The Fed's monetary policy, particularly the end of the rate hike cycle and discussions of rate cuts, has a positive impact on the recovery of the cryptocurrency market. Bitcoin, as an alternative monetary system competing with the U.S. dollar, may see its valuation influenced by the Fed's rate cut decisions. The decline in real interest rates and a weaker dollar could support Bitcoin's valuation. Real World Assets (RWA) tokenization, representing the integration of Web3.0 and Web2.0, is gaining significant attention. Discussions on its on-chain protocol releases, application case sharing, regulatory and operational process exploration are diverse. RWA's high asset capacity, rapid recognition outside the crypto community, and lower risk compared to traditional Web3.0 assets may make it a key theme for the further expansion of the Web3.0 industry.