Brent crude oil has surged to $110, Saudi oil fields have been bombed, the U.S. military has begun withdrawing diplomatic personnel from the Middle East, and the U.S. and Israel are still planning to act against Iran after the midterm elections. Sounds familiar, doesn’t it?
What’s interesting is that $BTC didn’t surge with geopolitical risk this time; instead, it has been moving sideways. In the old script, war risk meant a safe-haven buy-in, but this time capital clearly prefers to chase crude oil. Gold is even worse off: since August, most of its gains have been wiped out, and ETFs are still seeing net outflows. As for its safe-haven attribute, true love is hard to find.
There is a real highlight on-chain, though. Raydium’s Q3 data in the $RAY ecosystem is pretty strong: net income up 264% quarter over quarter, tokenized asset trading volume reaching $3.99 billion, with stock token xStocks alone accounting for $2.59 billion. U.S. stocks like SPYx and NVDAx are all on-chain now. The RWA track is genuinely seeing volume growth, not just talk.
In addition, the U.S. Treasury’s OCC has finalized the federal regulatory framework for payment stablecoins under the GENIUS Act. This time it’s the real deal, and there’s plenty to look forward to in the compliant stablecoin sector.
Right now, the situation is: geopolitics drives volatility, earnings season drives sentiment, and on-chain developments provide the narrative. My view is: don’t chase highs in the short term, wait until the direction becomes clear, and manage your position size well—that matters more than anything else.
NFA DYOR
#比特币 #BTC #RWA #稳定币 #geopolitics
What’s interesting is that $BTC didn’t surge with geopolitical risk this time; instead, it has been moving sideways. In the old script, war risk meant a safe-haven buy-in, but this time capital clearly prefers to chase crude oil. Gold is even worse off: since August, most of its gains have been wiped out, and ETFs are still seeing net outflows. As for its safe-haven attribute, true love is hard to find.
There is a real highlight on-chain, though. Raydium’s Q3 data in the $RAY ecosystem is pretty strong: net income up 264% quarter over quarter, tokenized asset trading volume reaching $3.99 billion, with stock token xStocks alone accounting for $2.59 billion. U.S. stocks like SPYx and NVDAx are all on-chain now. The RWA track is genuinely seeing volume growth, not just talk.
In addition, the U.S. Treasury’s OCC has finalized the federal regulatory framework for payment stablecoins under the GENIUS Act. This time it’s the real deal, and there’s plenty to look forward to in the compliant stablecoin sector.
Right now, the situation is: geopolitics drives volatility, earnings season drives sentiment, and on-chain developments provide the narrative. My view is: don’t chase highs in the short term, wait until the direction becomes clear, and manage your position size well—that matters more than anything else.
NFA DYOR
#比特币 #BTC #RWA #稳定币 #geopolitics