#大户持仓动态 Recently, the rhythm of the crypto world is interesting - the easing of regulation and the influx of capital have formed a hedging effect, and the sense of a market bottom rebound is becoming stronger.

The SEC has approved the preliminary application for a spot Ethereum ETF, and this news has directly driven the monthly increase of $ETH to 25.5%. The Layer 2 ecosystem is also benefiting, with noticeable growth in the locked value of Arbitrum and Base. The total market capitalization of the public chain sector has kept pace, increasing by 10.5% to a scale of $1.9 trillion.

Specifically for major mainstream coins: $BTC is steadfastly holding the line at $67,000, backed by the continuous accumulation from spot ETFs like BlackRock's IBIT, with a scale that has exceeded $20 billion; $SOL's performance is even stronger, achieving a market cap increase of 34.5% thanks to its collaboration with PayPal and advancements in cross-chain technology.

But behind the calm surface, risks are still brewing beneath. The bankruptcy settlement expectations of Mt. Gox have been weighing down Bitcoin's upward momentum, and with several projects recently experiencing hacking attacks, market sentiment is occasionally poked.

From a broader perspective, the gradual improvement of the global regulatory framework and the accelerated entry of institutional funds are the most core driving forces, and the mainstreaming process is clearly accelerating in this cycle.