Recently, risk-averse assets and the crypto market have stirred up new waves together.

Trump announced a 25% tariff increase on trade with Iran, which once again tightened the nerves of global financial markets. Whenever the traditional financial order experiences turbulence, the value of decentralized networks is reevaluated. The pattern of history is interesting — every time the old system becomes unstable, new solutions appear more promising.

Just look at gold’s performance. It has surged to a historic high of USD, and the large-scale gold purchase operations by the Polish central bank are just a microcosm of the global de-dollarization wave. The Federal Reserve’s independence faces unprecedented pressure, and the stability of the USD as the foundation of credit is beginning to waver. These changes resonate with the underlying logic of the crypto world — as the risks of sovereign currencies rise, borderless and censorship-resistant assets become true safe havens.

Markets are indeed volatile, but the logic is becoming clearer. Rising cross-border payment costs highlight the advantages of blockchain technology in settlement; the sovereign credit system faces uncertainty, making Bitcoin’s fixed total supply of 21 million all the more valuable. In the short term, it’s emotional fluctuations; in the long term, it’s the evolution of trends.

Amid the waves of the traditional system, decentralized networks continue to operate uninterrupted. This is not temporary but part of a longer-term transformation. What are your thoughts on these changes?