Treasury-Funded WLFI Buyback and Burn Goes Live. Photo by BeInCrypto World Liberty Financial on Sunday proposed utilizing a portion of its digital asset treasury to accelerate the adoption of its affiliated stablecoin, USD1. The governance proposal, released Dec. 28, seeks authorization to allocate less than 5% of the project’s unlocked WLFI token supply to fund incentive programs. The initiative aims to secure partnerships across the cryptocurrency sector to bolster the usage of the dollar-pegged asset. ...

Key Points Solana is on pace to surpass Ethereum in annual revenue in 2025. Analysts gave a low-end prediction of $1,004 for the cryptocurrency by 2030. 10 stocks we like better than Solana › The Solana (CRYPTO: SOL) blockchain has a reputation for being cheaper, faster, and more eco-friendly than Bitcoin and Ethereum, yet it still lags behind the two tokens in terms of price, trading volume, and market capitalization. However, that may not matter at all, as Solana is carving out a major lane of it ...

Kraken backed platform xStocks launched on the TON crypto blockchain, letting Telegram users outside the US trade tokenized versions of US stocks and ETFs directly inside the chat app. The move adds a new on-chain venue to an already crowded race for tokenized stocks, where Solana and Ethereum hosts already hold around $180M in xStocks assets across nearly 50,000 wallets. This aligns with a 2025 trend, where everything from money-market funds to blue-chip stocks is now appearing on blockchains, as tradit ...

加密货币的本质与金融核心功能 - 加密货币本质上仍属于金融范畴 金融的核心活动包括借贷、投资和保险 所有金融产品都可归入这些类别[1] - 加密货币在重要意义上构成真正的金融创新 不同于历史上常以“创新”为名减少摩擦或掩盖实质的金融活动[2] 加密货币的创新潜力与当前局限 - 代币化将大型权益分解为更小的部分 去中心化金融旨在通过剔除抽取租金的中间商来复制金融市场的主要功能 比特币是一种对冲货币贬值的现代工具[3] - 比特币作为一项投资是成功的 但尚未实现其最初设计的交易货币目的[3] - 去中心化金融最终是消除中间商 还是助长寡头垄断金融行业的租金抽取 目前尚不明确[4] 传统金融智慧在加密货币领域的适用与警示 - 婴儿潮一代的传统金融智慧对真正的金融创新缺乏概念 其复杂性的巅峰体现在次贷抵押贷款和债务抵押凭证等产品上[5] - 利用借来的资金设立投资业务投资比特币 并指望其价格永不跌破某个臆想的“支撑位” 是极其愚蠢的行为 这是最古老的金融骗局之一 即借钱投资于波动大、风险高的资产[5][6] - 加密货币世界中一个同样徒劳但更复杂的策略是循环策略 它比裸借贷更复杂 但也是金字塔骗局这种非常老套把戏的一个变种 1929年股市崩盘的发生就与此类操作的一个版本有关[6][7]

核心观点 - 加密货币市场正进入一个阶段，其活动集中度比叙事动能更重要，2026年将成为检验核心市场能否在更规范的条件下实现规模化的关键测试[1] 市场结构演变 - 传统的加密货币周期模型（围绕零售投机、代币发行和协议特定催化剂）正变得不那么可靠，因为机构参与和市场基础设施在价格形成中扮演更大角色[2] - 永续期货日益成为价格发现的核心支柱，衍生品交易量现已占主要交易场所的大部分，这使价格形成机制转向头寸、资金费率及流动性状况，而非仅依赖零售驱动的动能[3] - 2025年末的清算事件后，杠杆率大幅降低，尤其是在衍生品市场，这次回撤被定性为结构性重置而非撤退，投机过剩被清除，而永续期货的参与保持韧性[4] - 更严格的保证金做法和改进的风险控制，正促使市场更有效地吸收冲击，尽管衍生品继续主导流动性[5] 预测市场发展 - 预测市场正从实验性产品演变为更持久的金融基础设施，名义交易量上升和流动性加深表明，这些市场正越来越多地用于信息发现和风险转移[6] - 预测平台间的碎片化正驱动对聚合和效率提升的需求，这一动态吸引了更成熟的参与者，并将用户群扩展到加密原生交易者之外，特别是在某些司法管辖区监管明晰度提高的背景下[7] 稳定币与支付应用 - 稳定币和支付是2026年增长的最终支柱，被视为加密货币最持久的现实世界应用来源[8] - 稳定币交易量通过结算、跨境转账和流动性管理（而非投机交易）持续增长[8]

行业趋势与转型 - 加密市场正从“叙事驱动代币”转向“业务驱动代币”，只有真正产生利润和可衡量价值的项目才会长期胜出 [1] - 预计未来1-3年，加密行业将经历结构性转型，钱包与交易所将演变为“类新型银行”，提供稳定币、代币化股票及货币市场产品等更成熟的金融服务 [1] 项目竞争力与价值模式 - XRP和Cardano如果无法证明真实世界的应用价值，可能在未来市场周期中失去竞争力 [1] - 以Hyperliquid为例，其通过用利润回购销毁代币，形成类似“股权投资”的价值模式，被认为是代币未来的发展方向 [1]

来源：市场资讯 （来源：吴说） 作者 | Tiger Research 2025 年，美国政府正在推行一项支持加密货币的政策，其目标简明扼要：让现有加密货币行业以与传统金融业相同的方式规范 运作。 要点总结 美国正致力于将加密货币纳入其现有金融基础设施，而非简单地吸纳整个行业。 过去一年间，国会、美国证券交易委员会（SEC）和商品期货交易委员会（CFTC）通过引入并调整规则，将加密货币逐步纳入 这一体系。 | Event | Date | Key Details | | --- | --- | --- | | Gary Gensler | Jan 20 | Enforcement-led SEC chair resigns | | Resignation | | | | Crypto Task Force Launched | Jan 21 | SEC crypto task force established | | SAB 121 Repealed | Jan 23 | Crypto custody accounting rule repealed | | Major Lawsuits Dropped | ...

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Bitcoin traded mostly flat around $87,000 heading into the final weekend of 2025 as investors remained cautious amid thin liquidity and tax-driven selling. Cryptocurrency Ticker Price Bitcoin (CRYPTO: BTC) $87,351.16 Ethereum (CRYPTO: ETH) $2,923.07 Solana (CRYPTO: SOL) $122.01 XRP (CRYPTO: XRP) $1.84 Dogecoin (CRYPTO: DOGE) $0.1221 Shiba Inu (CRYPTO: SHIB) $0.057119 Not ...

Christmas week was good for most people, but for hundreds of crypto investors, it ended with a court-ordered shutdown. An Australian court has shut down NGS Crypto, a digital asset company that marketed itself as a crypto-based retirement solution, after liquidators recovered just $4.4 million of an estimated $40 million invested by the public. The Federal Court order, issued during Christmas week, followed findings that the Gold Coast–linked group operated an unlicensed financial services business and ...

Galaxy Digital CEO Mike Novogratz warned that XRP’s value will increasingly depend on whether it can keep its community narrative intact as markets shift toward tokens that behave more like real businesses. “The moment you're not money, Bitcoin is money, then you're just a business,” Novogratz said on Galaxy Brains. “The valuations are a lot lower.” He then pointed directly at XRP’s ecosystem durability. “The questions will be can Ripple hold it together? Can Cardona hold it together?” Novogratz said, ar ...