In the past few days when Silly Brother went to Hong Kong, currency stocks are the biggest theme in the market. Currency stocks are roughly divided into two parts: currency theme stocks + stocks on the chain: Theme stocks in the currency circle: Ouke Cloud Chain, New Goods, Hood, Coinbase, Circle, Mara, Mstr These little brothers. There is also Trump's DJT, which not only raised 2 billion to buy flatbread, but also directly applied for a btc/ETH hybrid ETF. Recently, many small-cap stocks are planning to hype the theme of the currency circle. Rub on stablecoins, RWA, and other themes. There are also special brokerages that support U deposits, such as Shengli Securities, Guotai Junan, etc. In addition, the brokerage that does this cryptocurrency trading service has made a lot of moves recently. If you can't rub these things up, and you have no relationship or business ability, you can also buy ETH or BTC directly. For example, the brightest boy recently, the brave little brother Bmnr financed to buy eth; It pulled 30 times faster, fiercer than a soil dog. Stock on-chain: The stock on the chain is actually a breakthrough in supervision, and there is no need for KYC + tax exemption. At present, GMGN, debot and other first-class earth dog platforms are engaged in it. But the 1% commission for playing stocks is too high. Robinhood's solution is to do stock trading on its own. Robinhood is also a broker itself and has an advantage. The biggest change in robinhood is the listing of non-tradable shares on the chain, giving retail investors the opportunity to participate in private placements of companies such as openAI. Gate started to make contracts for U.S. stocks, providing ultra-high volatility. The core of the stock chain is the private placement of the public + the stock itself + the platform that provides trading services. Thinking more long-term, stocks come to the crypto world without KYC + tax exemption. Whether it is a superimposed contract or a private placement, this variety may evolve into a more attractive variety than the original stock. A large number of stock derivatives were born. Another side effect is that all crypto assets, including BTC, ETH, copycats, and MEMEs, will be diverted. Some analysts believe that copycats will be diverted while BTC will not. Will BTC be shunted by NVIDIA? From the perspective of logical self-consistency, all crypto assets are bearish, without exception.