1. Introduction and Background
Over the past year, the tokenization concept of real-world assets (RWA) has gradually shifted from the fringe narrative of fintech to the mainstream view of the crypto market. Whether it is the widespread application of stablecoins in payment and settlement, or the rapid growth of on-chain government bonds and note products, the notion of "traditional assets on-chain" has transformed from an idealized vision into a practical experiment. In this trend, stock tokenization, referred to as "stocks on-chain", has become one of the most controversial yet promising tracks. It embodies not only an attempt to transform the liquidity and trading efficiency of traditional securities markets but also challenges regulatory boundaries and opens up cross-market arbitrage opportunities. For the crypto industry, this could represent a generational leap that brings trillion-dollar asset pools into the on-chain world; for traditional finance, it resembles a "permissionless" technological breakthrough.

Tron Inc. successfully log in to Nasdaq through a Reverse merger with SRM Entertainment, turning Sun Yuchen from an SEC defendant into a Wall Street bell-ringer. This event not only marks the gradual integration of encryption assets into TradFi but also reflects the interests connection between Sun Yuchen and the Trump family. Meanwhile, Tron has shown strong performance in areas such as stablecoin payments, and its future development is highly anticipated.

Original author: Lesley, MetaEra
At the "Shanghai-Hong Kong Mutual Cooperation for Web3 – Shanghai-Hong Kong Web3 Complementary Cooperation Development Conference" on July 19, CEO Jessica of MetaEra had an in-depth dialogue with Professor Long Fan, the founder of Conflux, "China's only compliant public chain."
![Exclusive Interview with Conflux

1. Popular Coins on CEX
CEX Trading Volume Top 10 and 24H Price Change:
BTC：- 0.39%
ETH：- 2.47%
SOL：- 6.65%
XRP：- 8.50%
DOGE：- 8.40%
BNB：- 2.70%
SPK: + 83.81%
PENGU：- 2.38%

Recently, the American internet brokerage giant Robinhood announced the launch of "stock tokens" linked to equity in top private companies such as OpenAI and SpaceX for European users, once again bringing the cutting-edge topic of real-world asset (RWA) tokenization to the forefront. However, OpenAI quickly released an official statement, clearly stating that it has no connection with the tokens issued by Robinhood and warned that "these tokens do not represent the company's real equity."
This event not only reveals the profound contradiction between financial innovation and traditional equity management but also provides a thought-provoking case for global regulators and market participants. The crypto salad team will integrate RWA-related exploration content to deeply analyze the impact and significance of this case.
(Image source: 36 Kr)
1. Event Background
1. Robinhood is

The article analyzes the distribution of SOL tokens, showing that 88% of the SOL supply is in circulation, with 71% being staked. Institutions like Coinbase hold large amounts of SOL, while retail investor wallets mainly hold a small number of tokens, with 97.4% of wallets holding less than 1000 SOL. Overall, the concentration of SOL is relatively high, but retail investors also hold a certain share.

Original title: "I talked to 24 industry experts, and they predict that ETH will reach 4300 USD by the end of the year."
Original author: Richard Laycock
Original compilation: TechFlow
Key Points
2025 Price Prediction: Experts average prediction for the Ethereum price by the end of 2025 is $4,308.
Peak and trough forecast: The remaining time in 2025 may experience significant fluctuations, with an average predicted high price of $4,746, while the predicted low point is only $1,940.
Long-term outlook: Experts believe that Ethereum will continue to rise, with an expected price of $10,882 by 2030 and even reaching $22,374 by 2035.
Should you buy ETH: Most experts (57%) believe that now is a good time to buy Ethereum.

Coinsidings reshapes the tourism industry through the "Computing Power Economy" model, where every user action generates computing power assets, opening up new paths for asset monetization. Users accumulate computing power through consumption, interaction, and content creation, earning points, options, and real asset rights, building a sustainable rights ecosystem that promotes the integration of tourism and investment, redefining the relationship between users and the platform.

This article discusses the profits obtained by MEV arbitrage Bots in CEX-DEX arbitrage. Research shows that although the overall profits are considerable, the net gains are relatively low, and the arbitrage strategies quickly diminish, with a clear trend of market centralization. The profits of Block builders are also limited, and the overall business is affected by opaque order flow trading, with existing mechanisms being inefficient, which can be improved through the newly launched BuilderNet.

Original | Odaily Daily Report (@OdailyChina)
Author｜Golem（@web3\_golem）
In recent days, Bitcoin has broken through 120,000 USD to reach a new high, but as the price of Bitcoin rises, the Bitcoin ecosystem seems to be quietly curled up in a corner. "Either erupt in silence or perish in silence.” Although the Bitcoin ecosystem is gradually disappearing from the public eye, there are still those who steadfastly hold on, and BTCFi pioneer Merlin is one of them.
With Bitcoin continuing to reach new highs, the mountain

This article is from: Penn Blockchain Co-Investment Director Kevin (@kevinlhr 88)
Compiled by | Odaily Planet Daily (@OdailyChina); Translator | Azuma (@azuma\_eth)
Despite the long-standing enthusiasm in the crypto community for introducing traditional assets in a tokenized form on-chain, the most significant recent progress has actually come from the reverse integration of crypto assets into traditional securities. The recent public market's fervor for "crypto asset treasury" stocks is perfect.

The decentralized AI data infrastructure project Poseidon, incubated by the on-chain IP protocol Story, announced today that it has completed a $15 million seed round of financing, led by a16z crypto. This round of funding will be used to accelerate the construction of a full-stack data infrastructure layer aimed at Bots, multimodal models, and next-generation physical AI, to tackle the most critical yet overlooked bottleneck in the current AI development: high-quality, IP-secure, traceable data acquisition.
"In today's world where models and computing power are gradually being commoditized, the real competitive barrier is data."
——Sandeep Chinchali, Chief AI Officer of Story and Chief Scientist of Poseidon
The mission of Poseidon is to expand the programmable IP layer built by Story to real-world data and

1. Fat Penguin Sparks Twitter Avatar Change Trend
Recently, Pudgy Penguins has sparked a wave of profile picture enthusiasm in the crypto community, with industry institutions including Coinbase, Binance.US, OpenSea, VanEck, OKX, and BitMart successively changing their official Twitter avatars to Pudgy Penguins' derivative images. Among them, the endorsement by traditional financial giant VanEck is particularly crucial. This asset management company, with a history of 70 years, not only changed its Twitter avatar to a Pudgy Penguin as early as 2024 but also rang the bell on Nasdaq with physical dolls on June 23 this year, bringing Web3 IP into the mainstream financial arena. The recent popularity has also significantly boosted the price performance of Pudgy Penguins-related assets. As of July 17, the Pudgy Penguins ecosystem token.

Original | Odaily Daily Report (@OdailyChina)
Author | Ethan (@ethanzhang\_web3)
RWA sector market performance
According to the latest data from RWA.xyz, as of July 22, 2025, the total on-chain value of RWA is $25.49 billion, a slight decrease of $0.02 billion compared to $25.51 billion on July 15, with a weekly decline of 0.08%.

Original | Odaily Daily Report (@OdailyChina)
Author | Golem (@web3\_golem)
On July 21, the US stock market welcomed another publicly listed company focused on Ethereum. Special Purpose Acquisition Company (SPAC) Dynamix Corporation (NASDAQ: DYNX) announced a merger with The Ether Reserve and affiliated entities to form a new company, The Ether Ma.