This week, stablecoins made another big move. Tether minted 3.75 billion USDT within a week, with a single transaction reaching up to 1 billion. Every time we see such massive minting, the market starts to spin stories — the stablecoin market is growing bigger and bigger, and the liquidity of ecosystem funds is also becoming more active. But ironically, the market itself is still struggling in an extremely fragmented bear market; no matter how aggressive the issuance, it can't change the market's indifference.

On the other hand, the BNB Chain Foundation has stepped in to support the Chinese Meme track. The official announcement states an investment of $50,000 each into two projects: "I’m Coming" and "Binance Life." The results were immediate — the market cap of "I’m Coming" directly surpassed $27 million, and "Binance Life" also benefited. It seems the chain ecosystem is using real money to support local creative tokens, showing genuine sincerity.

But the reality is, the Chinese Meme coin track is mostly retail investors PvP against each other — whoever cuts whom, and once the capital situation loosens, it’s easy to collapse. How long can this support last? No one dares to make any guarantees.