Recently, the cryptocurrency market has seen a series of noteworthy developments. First, the issuance rights of the USDH stablecoin under Hyperliquid have become the focus of competition among major institutions. Several well-known institutions, including Paxos and Frax, have submitted bidding proposals, demonstrating the market's high interest in quality stablecoin projects.

At the same time, the Trump family's wealth saw a significant increase last week, adding approximately 1.3 billion USD, with WLFI contributing 670 million USD, reflecting the strong performance of specific assets in the short term.

In the token market, SOMI broke through the $1.9 mark this morning, with a 24-hour increase of up to 60.2%, demonstrating that the activity in the small token market is on the rise. However, investors also need to be cautious, as several tokens including S, IO, and APT will face significant unlocks this week, which may cause some fluctuations in the market.

It is worth noting that the Kinto project, which suffered approximately $1.55 million in attack losses in July, announced that it will officially close on September 30, highlighting the importance of security in encryption projects.

Overall, the encryption market presents a landscape where opportunities and challenges coexist. The intensified competition in the stablecoin sector, the rapid appreciation of certain assets, the strong performance of smaller tokens, and the impending token unlocks are all factors that will have a profound impact on the market. Investors need to fully assess risks while seizing opportunities and maintain a cautious attitude.