Record some thoughts on the recent market sentiment for Payfi / x402.

$PYPL rose by 10 points due to news stimulus, on-chain x402 entered PvP.

The recent x402 small surge actually reflects the lack of innovation in the cryptocurrency market, a shortage of funds, and a hunger for sentiment.

> x402 is not a very new concept, and its ability to evoke market sentiment actually indicates a lack of a clear main narrative in the cryptocurrency space. Therefore, a new narrative that comes from the traditional market and is backed by large companies is enough to stir up a brief wave of sentiment.

> The crypto market lacks good targets, the brief surge of $PING brought a small climax, but it quickly cooled down, with the most resilient $Payai struggling at 60m. The previously hyped $DARK and $DREAMS are being picked up and traded again...

> The liquidity in the market is very limited, with Base, Solana, and BSC competing for the scarce liquidity, leading to fluctuating market conditions of "highs and lows."

I am more optimistic about RWA.

Introducing incremental liquidity to bring real benefits is the only way for the industry to move out of zero-sum games and towards a positive-sum ecosystem.

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In terms of the Payfi sector, the bottom consolidation for four years $PYPL is more cost-effective.