Performance Comparison - Sui processes 5,000-8,000 transactions per second (TPS) in production [1] - Monad promised 10,000 TPS with EVM compatibility but delivers only 20 TPS, a 250x performance gap [1] Market Valuation - Sui trades at 0.3x Solana's market capitalization despite matching its throughput with 99.99% uptime [1] - The market has not yet repriced the superiority of non-EVM chains [1]

Stablecoin Market Dynamics - Ethereum's dominance in stablecoin transfers is not significant, indicating limited early cannibalization [1] - Tron appears to be the biggest loser in stablecoin transfers, followed by Solana, Polygon, and L2s [1] - Ethereum stablecoin usage is primarily driven by yield farming, DeFi activities, and long-term holding [1] - Growth in stablecoins is generally bullish for the crypto market [2] Stripe's Impact - Stripe's choice of an L1 over an L2 may reduce demand for ETH holding and fee burning [1] - Stripe's ownership of the full stack (Bridge, Privy, Tempo) funnels users and volume into its ecosystem, potentially diverting them from Ethereum blockspace [2] - A potential coin launch by Tempo could further dilute capital and attention [2] - Stripe's adoption of EVM compatibility is a positive aspect [2] Ethereum (ETH) Outlook - It's difficult to definitively frame Stripe's actions as bullish for ETH [3] - New users entering via Stripe could eventually participate in Ethereum DeFi [2]

Protocol Upgrade - BRC20 协议已完成向 "BRC2.0" 的重大升级，集成了以太坊虚拟机 (EVM) 兼容性 [1] - 该升级由 Ordinals 开发者 Best in Slot 和 BRC20 创建者 Domo 领导，为比特币带来了类似以太坊的可组合性和可编程性，同时利用了其安全性 [1] - 该升级已在比特币区块高度 912,690 处激活 [1]