The Federal Reserve decided to maintain the target range for the federal funds rate at 4.25%-4.50% in its latest policy meeting. This decision aligns with market expectations, but its policy wording, economic forecasts, and guidance on future interest rate paths have had a profound impact on the market. This meeting not only revealed the Federal Reserve's latest assessment of the current economic environment but also influenced market expectations regarding future liquidity conditions, directly affecting global assets, including cryptocurrencies.

The Prague upgrade is another important technical iteration of Ethereum, following the Cancun upgrade in March 2024, continuing to optimize network performance, reduce transaction costs, and enhance the programmability of smart contracts. Compared to previous upgrades, the Prague upgrade not only involves adjustments to the underlying protocol but also includes a series of far-reaching EIPs (Ethereum Improvement Proposals).

As the global financial system evolves, crypto assets will become an increasingly important asset class, and investors who can accurately grasp the trends will reap the greatest benefits in this transformation.

The emergence of the RWA track is breaking the limitations of DeFi, combining real-world financial assets with blockchain technology, which not only enhances the stability of on-chain financial products but also brings significant liquidity increments to the entire market. This track is becoming a key bridge for institutional investors and mainstream financial institutions to enter the crypto industry, and it may even drive the entire blockchain industry into a new growth cycle, potentially becoming the main growth driver for the crypto industry in 2025.

In the Web3 era, TEE (Trusted Execution Environment) is becoming a key cornerstone for data security and privacy computing. From MEV protection to AI computing, and from decentralized finance to DePIN ecosystems, TEE is building a more secure and efficient encrypted world.