白话区块链

U.S. spot cryptocurrency ETF trading volume surpasses $2 trillion, SpaceX and others plan IPO in 2026. Ethereum PoS network ETH queue decreases, phishing attack loss expectations decline. U.S. legislation targets insider trading, the government holds a large amount of cryptocurrency. Democrats oppose Trump's actions, Matrixport predicts high risk in 2026.

The digital asset market faces limited liquidity and macro event impacts, with fluctuations expected in the short term. Key data such as FOMC meeting minutes and employment figures will directly influence market sentiment. Cryptocurrencies are closely linked to macroeconomic factors, and future central bank policies, AI development, and tariff impacts will all play significant roles in market trends.

Global institutional cryptocurrency holdings have surpassed $185 billion, with corporations accounting for 73%. SoftBank completes a $40 billion investment in OpenAI, the UK plans to implement a crypto asset regulatory framework by 2027, the Federal Reserve will keep interest rates unchanged, and the market is affected by algorithmic trading and tax-avoidance sell-offs.

According to Polymarket data, Lighter is expected to release its Token on December 29th, with an airdrop probability of up to 73%. The DEX attracts retail investors with zero fees and promises a 25% token airdrop, gaining widespread attention. Despite the unfavorable market environment, the potential valuation after the token launch ranges from $2 billion to $3.5 billion, still attracting a large number of traders to participate.

1 - Capital Efficient Consumer Credit
Capital efficient consumer credit is the next frontier in cryptocurrency lending. They combine complex on-chain and off-chain credit modeling, modular design, collateral management, and artificial intelligence learning of user behavior, ultimately encapsulated in an easy-to-access application.
2 - The Polarization of Prediction Markets
Prediction markets will evolve in two very different directions: the "financial" direction and the "cultural" direction.
Financial direction: Prediction markets will have a stronger synergy with DeFi, making leverage more accessible, enabling liquid staking, and creating tools similar to refined "options."
Cultural direction: Cultural markets will tend to capture more popular imagination, exhibit stronger regional differences, and attract enthusiasts in niche areas.

1. Ethereum's contract trading volume this year hit a record high, with excessive leveraged speculation leading to a less-than-expected price;
2. Aave founder: DAO's earnings this year exceeded the total of the past three years, reaching $140 million, with funds used to buy AAVE not for proposal voting;
3. Hyperliquid's net inflow for 2025 reached $3.87 billion, with a trading volume close to $3 trillion;
4. Meme coin sector market cap dropped 65% in one year to $35 billion;
5. Tokenized commodity market size approaches $4 billion, with gold reaching new highs and boosting RWA attention;
6. Glassnode co-founder: Bitcoin derivatives trading pressure dissipates, US M2 money supply hits a record high of $22.3 trillion;
7. Clear

The field of crypto investment is expanding, but capital is becoming more selective, and liquidity competition is intensifying. Bitcoin's dominance is rising, and institutional participation through ETFs and other means is enhancing market compliance. Full-stack crypto applications are gathering, and stablecoins and real-world asset tokenization are driving on-chain economic development. The tokenization process is expected to accelerate by 2026.

The article summarizes the author's predictions for the blockchain and AI sectors in 2026, including corporate payments to AI surpassing human labor, record-breaking liquidity, the increasing importance of vector databases, enhanced AI autonomous task execution capabilities, and strengthened AI budget reviews. It also highlights Google's leading position in AI and the shift towards network designs that prioritize intelligent agents.

The 2025 crypto industry will be dominated by stablecoins, prediction markets, and established players. A series of events have occurred in the market, including hacking activities, predictions of bug-free code in the future, and record-breaking merger and acquisition transaction volumes. Circle clarified false information, while Polymarket confirmed it was targeted by an attack. Investors are advised to enter the market during downturns.

This article discusses the transformation of Ethereum in blockchain transactions, introducing the implementation of faster real-time transaction processing by splitting blocks into "sub-blocks". This shift eliminates the gap between intention and execution, allowing users to enjoy an instant, certain, and fair trading experience. It is expected that by the end of 2026, real-time execution will become the standard configuration for applications.

This week, the crypto market has slightly warmed up, with some tokens leading the rise. The willingness of high-net-worth individuals to invest in digital money has increased, with an expected allocation increase of 25% in the coming year. The market's sluggish trend has not been reversed, and institutional analysts predict that Bitcoin may reach $250,000 within two years. The Fed has a high probability of keeping interest rates unchanged at 79%.

In 2025, the Crypto Assets industry experienced a significant fall, with the vast majority of alts declining by 80%-99%. Bitcoin regained market dominance, while Ether's price fell back to 2022 levels. Strategies such as prediction markets and cash-backed Options received attention, and market governance and Tokenized securities emerged. In the future, there will be greater focus on fundamentals and real value, rather than short-term narratives.

Compilation: Plain Language Blockchain
Bhutan is taking a significant step into the cryptocurrency space, announcing a allocation of up to 10,000 Bitcoins (BTC) (approximately $1 billion USD) to fund the "Gleup Happiness City" initiative.
For years, Bhutan's government investment arm, Druk Holding & Investments (DHI), has been mining Bitcoin using renewable energy. Currently, the country has become one of the leading Bitcoin holders globally, with a reserve of over 11,000 BTC.
To achieve sustainable development, the government plans to support the GMC's development through methods such as collateral loans and revenue generation, rather than directly selling Bitcoin. This special administrative region will attract enterprises from sectors like finance, tourism, green energy, and technology.
Core Plan
Gleup plans to align with its "Gross National Happiness" (GNH)

1. North Korean hackers stole $2.02 billion in cryptocurrency in 2025, setting a new record;
2. NYSE parent company ICE is in talks to invest in crypto payment company MoonPay, with a target valuation of approximately $5 billion;
3. The crypto market was hit again overnight, with Bitcoin falling below $85,000, and the total crypto market cap slipping below $3 trillion;
4. Citigroup increases bets on Federal Reserve rate cuts: expects the Fed to cut rates three times next year;
5. US core CPI unexpectedly slowed to its lowest level since 2021;
6. US SEC issues guidelines on broker-dealer crypto asset custody and crypto ATS operations;
7. David Sacks: The Crypto Market Structure Act, the "CLARITY Act," is scheduled for review and revision by the Senate in January next year;
8. Digital bank SoFi launches the USD stablecoin SoFiUSD, with plans to open it to members later.

This week, Bitcoin prices remained largely flat, MicroStrategy challenged the new MSCI rules, warning that they could lead to index distortion. Amateur miners received block rewards, and market sentiment was cautious. MicroStrategy continues to increase its Bitcoin holdings, demonstrating long-term confidence.

Compilation: Plain Language Blockchain
It's simple: the chains designed, built, and tuned for applications will shine brightly. Next year's top application chains will be meticulously assembled based on primitives and first principles.
The recent surge of developers, users, institutions, and capital entering the chain space is different from before: they possess specific cultures (understood as the definition of user experience), and they value these cultures more than abstract ideals like decentralization and censorship resistance. In practice, this sometimes aligns with our existing infrastructure, and sometimes it doesn't.
For crypto abstractions like Blackbird or Farcaster, which are aimed at non-experts, aspects of user experience—particularly those that, even three years ago, were considered heretical decentralization decisions—such as colocated nodes and single sequencers—are especially important.