Backpack triggered strong public backlash after launching its native token $BP due to airdrop distribution issues. Numerous KOLs and users expressed disappointment with how it was handled and criticized the project for deviating from community principles. Although the team stated it would open an appeals process and provide compensation, user trust has been severely damaged, and the token price has plummeted significantly.

The cryptocurrency market is experiencing high volatility, with favorable regulatory news emerging. BTC and ETH, as core assets, have been classified as "digital commodities." Institutional allocation to BTC and ETH has strengthened, SOL demonstrates good rebound potential, and BNB's ecosystem dominance remains strong. LINK is undervalued and suitable for positioning, with a clear trend of "global finance moving on-chain," while TAO and HYPE continue to show upward momentum. ASTERS offers good value in the privacy trading segment.

Venus Protocol as a major lending protocol on BNB Chain has survived multiple hacker attacks, demonstrating strong support from Binance. Despite facing serious security vulnerabilities and massive bad debts, Venus has become a "survivor" due to its ecosystem advantages, reflecting the universally fragile security infrastructure of DeFi projects.