In recent times, the market has shown typical characteristics of structural divergence along with macroeconomic disturbances. First, the small language model (SLM) industry chain has made tangible progress. According to a report by Buzzing, relevant hardware or models have been delivered, indicating that the AI edge computing track is moving from concept validation toward real-world deployment. As a result, investor attention and funding interest may rise.
On the macro front, Japan’s 30-year government bond yield increased by 5 basis points to 4.11%, reaching a multi-year high. The potential risk of unwinding the yen carry trade remains the “Damocles’ sword” hanging over global risk assets, and expectations of tighter marginal liquidity continue to weigh on sentiment in the crypto market. Meanwhile, signals from the real estate sector are cautious. In the first half of the year, Longfor Group recorded revenue of RMB 39.80 billion, significantly below the estimated RMB 45.41 billion. Net profit was RMB 1.96 billion, also under expectations. This reflects that pressure on property sales remains severe, leaving limited support from fundamentals.
On-chain capital flow shows that institutions and large holders are avoiding narratives characterized by high volatility and are shifting toward Layer 1 ecosystems with real-world use cases. $SEI , $NEAR , and $SUI —representatives of high-performance public chains—are showing steady growth in their TVL (total value locked) and daily active addresses. Unlike purely meme-coin speculation in the short term, these projects have longer life cycles and stronger community stickiness. In today’s market environment where “data speaks,” following the main capital flows into these infrastructure-layer projects is more stable than chasing short-term headlines. Which of these tokens are you currently holding, or are you still watching from the sidelines?
On the macro front, Japan’s 30-year government bond yield increased by 5 basis points to 4.11%, reaching a multi-year high. The potential risk of unwinding the yen carry trade remains the “Damocles’ sword” hanging over global risk assets, and expectations of tighter marginal liquidity continue to weigh on sentiment in the crypto market. Meanwhile, signals from the real estate sector are cautious. In the first half of the year, Longfor Group recorded revenue of RMB 39.80 billion, significantly below the estimated RMB 45.41 billion. Net profit was RMB 1.96 billion, also under expectations. This reflects that pressure on property sales remains severe, leaving limited support from fundamentals.
On-chain capital flow shows that institutions and large holders are avoiding narratives characterized by high volatility and are shifting toward Layer 1 ecosystems with real-world use cases. $SEI , $NEAR , and $SUI —representatives of high-performance public chains—are showing steady growth in their TVL (total value locked) and daily active addresses. Unlike purely meme-coin speculation in the short term, these projects have longer life cycles and stronger community stickiness. In today’s market environment where “data speaks,” following the main capital flows into these infrastructure-layer projects is more stable than chasing short-term headlines. Which of these tokens are you currently holding, or are you still watching from the sidelines?