#美联储降息25个基点  

Market Analysis for 2025.9.22
Market Trend
btc and eth are falling, and altcoins are generally declining.
The market's main line revolves around the security system, led by cz's return.
U.S. stocks hit new highs.

Market Hotspots:
1. b上所0g is a decentralized AI operating system, mainly focusing on data availability layer and storage system, similar to tia (2 billion), eigen (3 billion), and ao (400 million). Originally from the cfx team, raised $340 million, with a pre-market valuation of $3.5 billion, a total supply of 1 billion, and an initial circulation of 21%. The project team has a very small airdrop, and it is expected that the distribution of tokens will be highly controlled.
2. The perp platform aster has experienced a significant drop, with cz calling out multiple times. The chips are highly controlled, reaching a market value of up to 16 billion. The contract trading volume has surpassed that of btc. Aster has 200 million tokens (approximately 300 million USD) that will be unlocked on October 17, with an additional 200 million USD unlocked every month thereafter.
3. The AVNT and order of perp have surged. AVNT continues to reach new highs, with Coinbase as the market maker. The order model is more akin to a DEX backend similar to SRM, featuring a unified order book + full-chain liquidity, where token holders can receive 60% of the trading fee distribution. However, unlocking began in February 2025, with a linear unlock over 3.5 years.
4. The linear increase of l2, the Little Fox wallet is going to issue tokens, and the market expects a possible airdrop for linear holders.
5. The rwa public chain IP continues to surge, and a conference is being held in South Korea. The IP is highly controlled, with no users.
6. The pump of btc ecosystem's pumpbtc and merl is all bn alpha. The unlocking of merl buyback is delayed for 6 months, with the unlock postponed to November, suspected of being controlled by the market.