Opinion: The next stage of tokenization will be "personalized portfolios," rather than simply improving settlement efficiency.
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New York Life Asset Management executive: The biggest opportunity for tokenization lies in personalized investing.
PANews reported on July 5th, citing Coindesk, that Thomas Sy, Head of Multi-Asset Solutions at New York Life Investment Management (NYLIM), which manages $800 million in assets, stated in an interview that blockchain could ultimately enable asset management firms to tailor portfolios for individual investors on a large scale—something the current financial system cannot achieve. "We believe the future of asset management lies in personalization. And the only technology that can help us achieve this at scale is blockchain." Personalized investment strategies often combine ETFs, bonds, private credit, and other assets, creating operational complexity that makes personalization difficult to scale. Tokenization can simplify transfer brokerage, settlement, and other back-office processes, reducing costs and ultimately benefiting investors.
Opinion: The simple model for Bitcoin is over; the next bull market will require trillions of dollars in institutional funding.
According to BlockBeats, on July 1st, CryptoQuant CEO Ki Young Ju pointed out that Bitcoin's capital efficiency is declining significantly. In 2011, only $2.7 billion in net capital inflow was needed to drive a 55,436% price surge, while in the current cycle, $697 billion in net inflow has only resulted in a 689% increase. A more direct comparison is that the realized market capitalization required to double Bitcoin's price has ballooned from approximately $5 million in 2011 to approximately $101 billion in the current cycle, a decrease in efficiency of over 2000 times. "Realized market capitalization" represents the actual capital absorbed on-chain based on the last moving average price, rather than the theoretical market capitalization formed by the order book, thus more accurately reflecting the volume of funds entering the market. Despite the seemingly grim data, Ki Young Ju remains optimistic about BTC, believing that the next parabolic bull market requires deeper institutional allocation—Bitcoin cannot be driven solely by retail investors and ETFs; it must become a core macro asset, and this transformation is still in its early stages. Ki Young Ju points out that if Bitcoin can absorb over $1 trillion in realized market capitalization, another parabolic bull market is still within the realm of possibility. Compared to gold's market capitalization of approximately $27 trillion, the potential for large-scale institutional adoption of Bitcoin remains enormous. The next major bull market will require trillions of dollars in net capital inflows. The "simple model" is over, but the "institutional model" is just beginning.
Clarity Act Does Not Get Required 60 Votes To Advance To Next Stage
AggrNews News, Clarity Act Does Not Get Required 60 Votes to Advance to Next Stage
Decrypt Media and FOMO Hour’s Thought Leader Farokh Sarmad to Take Main Stage at NEXTPredict NY Conference
Premier Partnership will livestream the Main Stage through Decrypt Media and bring Rug Radio and FOMO HOUR programming onsite.
Opinion: Micron's net profit is expected to surpass Apple's next quarter; capacity expansion will eventually lead to a supply-demand reversal.
According to Mars Finance, on July 1st, Charlie Bilello, Chief Market Strategist at Creative Planning, published an article pointing out that the booming demand for high-bandwidth memory driven by AI is disrupting the power structure of the technology industry chain. Charlie used a set of net profit comparison data to visually illustrate this shift: Micron's net profit increased 15 times in one year to approximately $28 billion, and is expected to surpass Apple's approximately $29.6 billion next quarter. For a long time, Apple has had absolute pricing power over suppliers due to its strong brand position, but in the face of shortages of key AI-driven components, even the strongest consumer brand has to accept the price settings set by memory manufacturers. Bilello cited the classic economic principle that "the cure for high prices is high prices," and this imbalance will not last forever; high profits will eventually stimulate capacity expansion. Micron had previously hovered around the break-even point for a long time, but in the past two years, its profits have risen sharply with the AI boom, while Apple has maintained a high level but with slower fluctuations. The essence of this power shift is that the massive demand for HBM and DRAM from AI servers has occupied the capacity and bargaining power of memory manufacturers, forcing end-device brands to bear the cost transmission. The market's pricing for this is equally rational—despite Micron's soaring profits, its valuation multiple is still far lower than Apple's, because investors are well aware of the strong cyclicality of the memory industry, and high profits often foreshadow future waves of capital expenditure and the risk of supply-demand reversals.
Morning Minute: Crypto Stages Major Rally on Rate Hopes
Bitcoin soared past $81k, HYPE and ZEC hit smashing new ATHs and the onchain rally leveled up. Is this the first stage of the next leg up?