Important Information
【The scale of cryptocurrency card payments reaches approximately $18 billion, with Visa accounting for over 90% of the transaction volume】
Artemis' latest research shows that by 2025, cryptocurrency cards will have become an important entry point for stablecoin usage, with an annual transaction volume of about $18 billion; Visa has secured over 90% of the card transaction volume share through partnerships with early cryptocurrency infrastructure partners.
Impact/Insight: The card network's position as an 'intermediate layer' in stablecoin payments is further solidified, and direct on-chain payments are unlikely to completely replace the card network in the short term. At the same time, Visa's advancement in stablecoin clearing contrasts with its existing antitrust pressures, and regulation and licensing will determine the pace and boundaries of its deeper involvement.
[Cross-border CBDC platform mBridge cumulative processing amount exceeds approximately $55.5 billion]
Data from the Atlantic Council (as reported by Reuters/industry media) shows that mBridge cross-border transactions exceeded 4,000, with a cumulative amount of about $55.5 billion, with e-CNY accounting for approximately 95% of the settlement amount.
Related Assets: No direct crypto tokens, forming structural competition against cross-border settlement stablecoins such as USDT and USDC.
(https://theblock.co/post/386057/china-led-cross-border-cbdc-platform-mbridge-surges-past-55-billion-in-transaction-volume-reuters)
Industry Dynamics
[Caixin: The development of smart contracts for digital RMB supports fully Turing-complete languages such as Ethereum's Solidity]
Individuals familiar with the technology of digital RMB state that the smart contract of e-CNY, based on the account system, is essentially code that is executed automatically when conditions are triggered, currently classified as 'restricted Turing-complete'; technically supports development using languages like Solidity, but the key lies in standardized access and auditing mechanisms.
Related Assets: ETH (Solidity is the mainstream contract language of Ethereum, with a high degree of technical ecosystem correlation).
(https://weekly.caixin.com/2026-01-16/102404365.html)
[Analyst: Bitcoin's hash rate drops to a 4-month low, some miners shift to more profitable AI computing]
Hashrate Index data shows that BTC's 7-day average hash rate has fallen below 1,000 EH/s to about 993 EH/s. Industry views suggest that some miners are switching electrical and rack resources to AI/HPC tasks to enhance profits.
Related Assets: BTC; mining company stocks (e.g., MARA, RIOT; influenced by mining profitability and hash rate distribution).
(https://odaily.news/zh-CN/newsflash/464902)
Price Dynamics
[Bitcoin]$BTC
Driving Analysis: Although the net inflow of ETFs reached a new high last week, the risk appetite has fallen due to tariff tensions between the US and Europe, causing BTC to weaken alongside; at the same time, changes in derivatives structure (options OI > futures OI) suggest that funds are leaning towards hedging and volatility strategies.
[Ethereum]$ETH
Driving Analysis: Overall risk appetite weakens, leading to a pullback in mainstream assets; on a weekly basis, Ethereum spot ETF also recorded a net inflow (approximately $479 million), but short-term effects could not offset macro disturbances.