Recent policies in the cryptocurrency market have been sending important signals. Over forty countries worldwide are advancing cryptocurrency tax reporting systems, and regulatory frameworks are gradually becoming more standardized. Meanwhile, the presidential candidate in Brazil has proposed a national Bitcoin strategy, indicating that mainstream political forces are gradually shifting their attitude towards digital assets. On the macroeconomic front, renowned investor Ray Dalio has warned of potential economic risks stemming from the upcoming US midterm elections, which could have a profound impact on overall asset allocation and market sentiment. Additionally, publicly listed companies with Bitcoin as their main asset allocation are facing valuation pressures, reflecting market fluctuations in the recognition of crypto asset values. These signals, combined, are shaping the current development pace of the Web3 ecosystem.