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🦈 鯊魚雷達|追蹤幣圈資金脈動、宏觀分析、新聞觀察、政策解讀,一次掌握。
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Bullish
【What you buy is value, what you pay is price: The faith and understanding of long-term holders】 In the daily fluctuations of the cryptocurrency market, most people only care about the price, but those who can truly navigate through bull and bear markets never look at the price, but at the value. This classic quote from Buffett: "What you buy is value, what you pay is price," is particularly fitting when applied to cryptocurrencies like Bitcoin, Ethereum, or SUI. Because when you understand the mechanisms, evolutionary logic, and future potential behind an asset, you are no longer just a holder, but a participant. Understanding is the greatest risk hedge Understanding why blockchain was created, knowing the necessity of decentralization, being able to judge the governance model, economic system, and technological direction of a public chain—this knowledge itself is your most solid foundation in a bear market. When most people only care about the current price, real investors have already extended their time horizon, looking towards the realization of value over an entire decade or even further. Value ≠ Short-term profit Value comes from the expansion of network effects, from the prosperity of ecosystems, from breakthroughs in technology and user recognition. These things are difficult to fully reflect in price in the short term, but they will determine the life and death of a project in the long term. You won’t lose confidence in Ethereum just because ETH dropped 5% today; You also won’t abandon an entire growing ecosystem just because a certain public chain isn’t trending right now. Because you understand what it is doing and believe it is moving forward. Price is cost, belief is power Investment is never about who sells higher, but about who can see further. When market fluctuations induce fear, you still choose to hold tight because you know what you are holding. It is not just a coin, but your bet on the future. Those who understand value do not care about short-term prices What truly keeps you holding coins to this day is not luck, nor courage, but your understanding and trust in value. Don't forget: each coin you hold is a record of your choice to believe in the future. $SUI $BTC $ETH {spot}(SUIUSDT) {spot}(BTCUSDT) {spot}(ETHUSDT)
【What you buy is value, what you pay is price: The faith and understanding of long-term holders】

In the daily fluctuations of the cryptocurrency market, most people only care about the price, but those who can truly navigate through bull and bear markets never look at the price, but at the value.

This classic quote from Buffett: "What you buy is value, what you pay is price," is particularly fitting when applied to cryptocurrencies like Bitcoin, Ethereum, or SUI. Because when you understand the mechanisms, evolutionary logic, and future potential behind an asset, you are no longer just a holder, but a participant.

Understanding is the greatest risk hedge

Understanding why blockchain was created, knowing the necessity of decentralization, being able to judge the governance model, economic system, and technological direction of a public chain—this knowledge itself is your most solid foundation in a bear market.

When most people only care about the current price, real investors have already extended their time horizon, looking towards the realization of value over an entire decade or even further.

Value ≠ Short-term profit

Value comes from the expansion of network effects, from the prosperity of ecosystems, from breakthroughs in technology and user recognition. These things are difficult to fully reflect in price in the short term, but they will determine the life and death of a project in the long term.

You won’t lose confidence in Ethereum just because ETH dropped 5% today;
You also won’t abandon an entire growing ecosystem just because a certain public chain isn’t trending right now.

Because you understand what it is doing and believe it is moving forward.

Price is cost, belief is power

Investment is never about who sells higher, but about who can see further.
When market fluctuations induce fear, you still choose to hold tight because you know what you are holding.
It is not just a coin, but your bet on the future.

Those who understand value do not care about short-term prices

What truly keeps you holding coins to this day is not luck, nor courage, but your understanding and trust in value.
Don't forget: each coin you hold is a record of your choice to believe in the future.

$SUI $BTC $ETH
PINNED
Article
[Investing in the crypto space is not gambling, it is about whether the project has 'profitability']In the crypto space, the rise and fall of token prices can be enticing, but what truly supports the price has never been enthusiasm, but whether the project itself can make money. This statement sounds very ordinary, yet it is the key that most people overlook. Most investors look at a project only by checking 'Is there a KOL promoting it?', 'Is the TVL high?', 'Is the community active?', but what they should really ask is— → 'How does this project actually make money? And does it share any of that money with you?' --- 1. What is a 'profitable project'? In the traditional world, you wouldn't buy stocks of a company that has no income at all. So why would you be willing to buy a token in the crypto space that can't even clearly explain its revenue logic?

[Investing in the crypto space is not gambling, it is about whether the project has 'profitability']

In the crypto space, the rise and fall of token prices can be enticing, but what truly supports the price has never been enthusiasm, but whether the project itself can make money.

This statement sounds very ordinary, yet it is the key that most people overlook. Most investors look at a project only by checking 'Is there a KOL promoting it?', 'Is the TVL high?', 'Is the community active?', but what they should really ask is—

→ 'How does this project actually make money? And does it share any of that money with you?'

---

1. What is a 'profitable project'?

In the traditional world, you wouldn't buy stocks of a company that has no income at all. So why would you be willing to buy a token in the crypto space that can't even clearly explain its revenue logic?
Article
[TBook × ContributionDAO: Connecting RWA Liquidity to 'Institutional-Grade Staking' – Sui's Financial Infrastructure Is Deepening]Sui has officially announced: TBook and ContributionDAO are collaborating to connect 'liquidity of real-world assets (RWA)' with 'institutional-grade staking,' interpreting this as a deeper financial infrastructure forming on the Sui network. This is not just a simple collaboration promotion; behind it lies a trend: for RWA to achieve large-scale adoption, it cannot stop at merely 'tokenizing assets'—it also requires sustainable liquidity, credible yield pathways, and security and compliance frameworks closer to institutional standards. --- Why RWA liquidity is harder than imagined

[TBook × ContributionDAO: Connecting RWA Liquidity to 'Institutional-Grade Staking' – Sui's Financial Infrastructure Is Deepening]

Sui has officially announced: TBook and ContributionDAO are collaborating to connect 'liquidity of real-world assets (RWA)' with 'institutional-grade staking,' interpreting this as a deeper financial infrastructure forming on the Sui network.
This is not just a simple collaboration promotion; behind it lies a trend: for RWA to achieve large-scale adoption, it cannot stop at merely 'tokenizing assets'—it also requires sustainable liquidity, credible yield pathways, and security and compliance frameworks closer to institutional standards.

---

Why RWA liquidity is harder than imagined
Article
[Talus ($US): Lots of AI narratives, but the true 'AI economic system' has just begun]In recent months, the crypto market has entered another peak period of the AI narrative. From large language models, computing power, AI agents, AI + DeFi, AI + RWA, to automated trading and decentralized AI collaboration, various labels keep rotating. But if we set aside market sentiment and return to the most fundamental question, there is actually only one: Can AI on-chain truly form a sustainable economic system? Most AI projects are still stuck in the 'concept demonstration' and 'technical imagination' phase, What is truly scarce is the infrastructure that can transform AI behavior into stable, settleable, and verifiable economic activities.

[Talus ($US): Lots of AI narratives, but the true 'AI economic system' has just begun]

In recent months, the crypto market has entered another peak period of the AI narrative.
From large language models, computing power, AI agents, AI + DeFi, AI + RWA, to automated trading and decentralized AI collaboration, various labels keep rotating.
But if we set aside market sentiment and return to the most fundamental question, there is actually only one:
Can AI on-chain truly form a sustainable economic system?
Most AI projects are still stuck in the 'concept demonstration' and 'technical imagination' phase,
What is truly scarce is the infrastructure that can transform AI behavior into stable, settleable, and verifiable economic activities.
Article
【The True Battlefield of Sui Is Emerging: Derivatives Are Reshaping a Blockchain's Status】The center of power in the crypto market has never been in short-term narratives or surface-level applications. The one battlefield that truly determines a blockchain's financial standing has always been: Derivatives, especially perpetual contracts (Perps). The reason is simple. This is where the largest capital pools, the highest trading volumes, the most sophisticated risk management demands are concentrated, and it is also the core revenue source for exchanges and protocols. And now, this battlefield is gradually shifting toward Sui. Recently, Sui officially invited five major Perps teams for in-depth discussions: Aftermath, Astros, Bluefin, FlowX, and Zo.

【The True Battlefield of Sui Is Emerging: Derivatives Are Reshaping a Blockchain's Status】

The center of power in the crypto market has never been in short-term narratives or surface-level applications.
The one battlefield that truly determines a blockchain's financial standing has always been:
Derivatives, especially perpetual contracts (Perps).
The reason is simple.
This is where the largest capital pools, the highest trading volumes, the most sophisticated risk management demands are concentrated, and it is also the core revenue source for exchanges and protocols.
And now, this battlefield is gradually shifting toward Sui.
Recently, Sui officially invited five major Perps teams for in-depth discussions: Aftermath, Astros, Bluefin, FlowX, and Zo.
Article
[The Boom of On-Chain Games Is Coming Soon, Who Will Meet Their Data Storage Needs? Walrus Has the Answer]You may have noticed that more and more game projects are starting to move onto Sui: Lineup Games has officially launched Striker League and Gold Striker, featuring a seamless Web3 experience XOCIETY has landed on the Epic Games Store and opened Early Access; large-scale games like Abyss World are still under development The integration of Telegram mini-game ecosystems with super apps is rapidly bringing Web2 users into blockchain gaming Sui is not just a public blockchain; it is gradually becoming the 'operating system for Web3 games'. But this also raises a critical question: Where should we store the massive data from these games?

[The Boom of On-Chain Games Is Coming Soon, Who Will Meet Their Data Storage Needs? Walrus Has the Answer]

You may have noticed that more and more game projects are starting to move onto Sui:
Lineup Games has officially launched Striker League and Gold Striker, featuring a seamless Web3 experience
XOCIETY has landed on the Epic Games Store and opened Early Access; large-scale games like Abyss World are still under development
The integration of Telegram mini-game ecosystems with super apps is rapidly bringing Web2 users into blockchain gaming
Sui is not just a public blockchain; it is gradually becoming the 'operating system for Web3 games'.
But this also raises a critical question:
Where should we store the massive data from these games?
Article
【The era when AI starts earning money itself, Talus is laying the financial foundation】The market is still debating whether the next narrative is AI or DeFi, But the real turning point actually happened long ago— Economic participants are shifting from 'humans' to 'AI'. The only assumption of all past financial systems was one: Money is meant to be used by people. And the Talus protocol has done something fundamentally rewriting that assumption: Allowing AI to have wallets, credit, income, expenses, and settlement capabilities. This is not an upgrade of tools, This is the birth of a new economic entity. From 'you pay' to 'AI pays itself' In today's world, all transaction processes revolve around human design:

【The era when AI starts earning money itself, Talus is laying the financial foundation】

The market is still debating whether the next narrative is AI or DeFi,
But the real turning point actually happened long ago—
Economic participants are shifting from 'humans' to 'AI'.
The only assumption of all past financial systems was one:
Money is meant to be used by people.
And the Talus protocol has done something fundamentally rewriting that assumption:
Allowing AI to have wallets, credit, income, expenses, and settlement capabilities.
This is not an upgrade of tools,
This is the birth of a new economic entity.

From 'you pay' to 'AI pays itself'
In today's world, all transaction processes revolve around human design:
There is a saying that the market is always born in despair Sui ecology is definitely the next dark horse Valuation sees 50 billion, whether in technology or development speed It is not inferior to other mainstream public chains Only by holding long-term can one reap abundant fruits $SUI
There is a saying that the market is always born in despair
Sui ecology is definitely the next dark horse
Valuation sees 50 billion, whether in technology or development speed
It is not inferior to other mainstream public chains
Only by holding long-term can one reap abundant fruits

$SUI
【BTC Map: The number of merchants globally accepting Bitcoin payments is expected to increase by about 50% in 2025】 According to BTC Map data, In 2025, the number of merchants accepting Bitcoin payments worldwide is expected to grow by about 50% year-on-year. Data shows: In January 2025, approximately 12,000 merchants will support BTC payments, increasing to around 19,900 by early 2026. Of these, 11,200 merchants have completed verification, including 851 trading platforms. These figures themselves do not reflect market conditions, but rather indicate the expansion of the payment network's infrastructure. The growth in the number of merchants represents: The nodes accepting Bitcoin as a settlement method are increasing, use cases are no longer limited to investment and trading, but are gradually entering everyday business activities. As the merchant network expands, the liquidity and practical usability of Bitcoin will also expand, this is a slow, yet structural change. Such data usually does not immediately reflect in prices, but will long-term influence an asset's survival boundaries. $BTC {spot}(BTCUSDT)
【BTC Map: The number of merchants globally accepting Bitcoin payments is expected to increase by about 50% in 2025】

According to BTC Map data,
In 2025, the number of merchants accepting Bitcoin payments worldwide is expected to grow by about 50% year-on-year.
Data shows:
In January 2025, approximately 12,000 merchants will support BTC payments,
increasing to around 19,900 by early 2026.
Of these, 11,200 merchants have completed verification,
including 851 trading platforms.

These figures themselves do not reflect market conditions,
but rather indicate the expansion of the payment network's infrastructure.
The growth in the number of merchants represents:
The nodes accepting Bitcoin as a settlement method are increasing,
use cases are no longer limited to investment and trading,
but are gradually entering everyday business activities.
As the merchant network expands,
the liquidity and practical usability of Bitcoin will also expand,
this is a slow, yet structural change.
Such data usually does not immediately reflect in prices,
but will long-term influence an asset's survival boundaries.

$BTC
Article
[ Ethereum has seen a surge of 110% in new holding addresses since the Fusaka upgrade in December ]Recently, the market has focused on price fluctuations, ETF capital flows, and macroeconomic data, but the truly important changes are actually happening on-chain. Since the Fusaka upgrade went live on December 3, the fundamental structure of Ethereum has been rapidly changing. In just three weeks, the number of new holding addresses has grown by over 110%, with about 292,000 new addresses added daily. This is not just a sentiment-driven market; it is the result of real usage demand and an increase in network adoption. Such data typically appears only when the industry enters a new phase. The Fusaka upgrade completes the two most critical pieces of the Ethereum puzzle.

[ Ethereum has seen a surge of 110% in new holding addresses since the Fusaka upgrade in December ]

Recently, the market has focused on price fluctuations, ETF capital flows, and macroeconomic data, but the truly important changes are actually happening on-chain.
Since the Fusaka upgrade went live on December 3, the fundamental structure of Ethereum has been rapidly changing. In just three weeks, the number of new holding addresses has grown by over 110%, with about 292,000 new addresses added daily. This is not just a sentiment-driven market; it is the result of real usage demand and an increase in network adoption.
Such data typically appears only when the industry enters a new phase.

The Fusaka upgrade completes the two most critical pieces of the Ethereum puzzle.
【Bitcoin Spot ETF Net Inflow of $459 Million Last Week, Capital Structure Continues to Shift】 According to the latest data from SoSoValue, on the week from December 29 to January 2 Eastern Time, Bitcoin Spot ETF had a net inflow of $459 million in a single week. Among them, the most notable inflows were: BlackRock IBIT: Net inflow of $324 million in a single week, historical cumulative net inflow has reached $62.38 billion Fidelity FBTC: Net inflow of $106 million in a single week, historical cumulative net inflow has reached $12.20 billion The most significant outflow was from: Grayscale GBTC: Net outflow of $53.67 million in a single week, historical cumulative net outflow has reached $25.24 billion As of now, the total net asset value of Bitcoin Spot ETF has reached $116.95 billion, The market value of Bitcoin held by the ETF accounts for 6.53% of the total Bitcoin market value, historical cumulative net inflow has already surpassed $57.08 billion. These data reflect a very clear signal: Bitcoin is gradually shifting from a retail-driven market to an institutionally-driven structure. The capital has not exited, it has only entered in a more long-term, stable, and institutionalized manner. $BTC {spot}(BTCUSDT)
【Bitcoin Spot ETF Net Inflow of $459 Million Last Week, Capital Structure Continues to Shift】

According to the latest data from SoSoValue,
on the week from December 29 to January 2 Eastern Time,
Bitcoin Spot ETF had a net inflow of $459 million in a single week.
Among them, the most notable inflows were:

BlackRock IBIT: Net inflow of $324 million in a single week,
historical cumulative net inflow has reached $62.38 billion

Fidelity FBTC: Net inflow of $106 million in a single week,
historical cumulative net inflow has reached $12.20 billion

The most significant outflow was from:
Grayscale GBTC: Net outflow of $53.67 million in a single week,
historical cumulative net outflow has reached $25.24 billion

As of now, the total net asset value of Bitcoin Spot ETF has reached $116.95 billion,
The market value of Bitcoin held by the ETF accounts for 6.53% of the total Bitcoin market value,
historical cumulative net inflow has already surpassed $57.08 billion.

These data reflect a very clear signal:
Bitcoin is gradually shifting from a retail-driven market to an institutionally-driven structure.
The capital has not exited,
it has only entered in a more long-term, stable, and institutionalized manner.

$BTC
【Binance Bitcoin Monthly Average Inflow Surges 34 Times, Large Capital Activities Significantly Increase】 According to PANews on January 5, citing CryptoQuant data, In recent months, the average inflow of Bitcoin per transaction on the Binance platform has risen to about 29.7 BTC, compared to early 2021, an increase of nearly 34 times. This indicator reflects: The average number of Bitcoins brought in with each transaction flowing into Binance. When this number rapidly expands, it indicates that the participants are no longer scattered retail investors, but institutional capital or large holders (whales) starting to frequently adjust their positions. In other words— Large capital is accelerating its entry into the core trading hub of the market. From historical experience, when the average inflow per transaction on exchanges shows a structural rise, it often means that the market's capital structure is undergoing a transformation: from mainly short-term retail investors → gradually shifting towards medium to long-term capital allocations. This does not necessarily mean there will be a significant surge in the short term, but it clearly tells us one thing: The underlying players in the market are changing. When large capital begins to systematically enter, the upcoming market fluctuations are likely not just emotional, but a repricing of the structure. $BTC $BNB {spot}(BTCUSDT) {spot}(BNBUSDT)
【Binance Bitcoin Monthly Average Inflow Surges 34 Times, Large Capital Activities Significantly Increase】

According to PANews on January 5, citing CryptoQuant data,
In recent months, the average inflow of Bitcoin per transaction on the Binance platform has risen to about 29.7 BTC,
compared to early 2021, an increase of nearly 34 times.

This indicator reflects:
The average number of Bitcoins brought in with each transaction flowing into Binance.
When this number rapidly expands, it indicates that the participants are no longer scattered retail investors,
but institutional capital or large holders (whales) starting to frequently adjust their positions.

In other words—
Large capital is accelerating its entry into the core trading hub of the market.
From historical experience,
when the average inflow per transaction on exchanges shows a structural rise,
it often means that the market's capital structure is undergoing a transformation:
from mainly short-term retail investors → gradually shifting towards medium to long-term capital allocations.
This does not necessarily mean there will be a significant surge in the short term,
but it clearly tells us one thing:
The underlying players in the market are changing.
When large capital begins to systematically enter,
the upcoming market fluctuations are likely not just emotional, but a repricing of the structure.

$BTC $BNB
【 Weekly Net Inflow of XRP Spot ETF Reaches $43.16 Million Last Week 】 According to SoSoValue data, from December 29 to January 2, Eastern Time, the XRP spot ETF recorded a weekly net inflow of $43.16 million. Among them, the product with the highest weekly net inflow was Franklin XRP ETF (XRPZ), with a weekly net inflow of $21.76 million; the cumulative historical net inflow of XRPZ has now reached $252 million. Second was Bitwise XRP ETF (XRP), with a weekly net inflow of $17.27 million; the cumulative historical net inflow of XRP has now reached $265 million. Observations for Investors The XRP spot ETF continues to show stable fund inflows, indicating that institutional demand for XRP allocation is still accumulating, rather than short-term speculation. When capital flows show "consistent net inflows" instead of a single-day surge, it typically reflects the establishment of medium- to long-term positions, not emotional market entry. In particular, the significant net inflows from two major asset management products—Franklin and Bitwise—demonstrate that mainstream institutions are increasingly accepting XRP. Such changes in capital structure are often more noteworthy than short-term price fluctuations. Against the backdrop of the market still in an emotional recovery phase, such stable allocation behavior typically occurs before a broad market rally truly takes off. $XRP {spot}(XRPUSDT)
【 Weekly Net Inflow of XRP Spot ETF Reaches $43.16 Million Last Week 】

According to SoSoValue data, from December 29 to January 2, Eastern Time, the XRP spot ETF recorded a weekly net inflow of $43.16 million.
Among them, the product with the highest weekly net inflow was Franklin XRP ETF (XRPZ), with a weekly net inflow of $21.76 million; the cumulative historical net inflow of XRPZ has now reached $252 million.
Second was Bitwise XRP ETF (XRP), with a weekly net inflow of $17.27 million; the cumulative historical net inflow of XRP has now reached $265 million.

Observations for Investors

The XRP spot ETF continues to show stable fund inflows, indicating that institutional demand for XRP allocation is still accumulating, rather than short-term speculation.
When capital flows show "consistent net inflows" instead of a single-day surge, it typically reflects the establishment of medium- to long-term positions, not emotional market entry.
In particular, the significant net inflows from two major asset management products—Franklin and Bitwise—demonstrate that mainstream institutions are increasingly accepting XRP.
Such changes in capital structure are often more noteworthy than short-term price fluctuations.
Against the backdrop of the market still in an emotional recovery phase, such stable allocation behavior typically occurs before a broad market rally truly takes off.

$XRP
【Yi Lihua: Aster has been stopped, looking forward to a new star exchange project on the Binance team level】 ChainCatcher news, Yi Lihua, founder of Liquid Capital, posted on X platform stating that he has executed a stop-loss on the Aster project, and the project team is currently unable to contact its founder. JackYi also expressed great anticipation for a new "Binance team-level" project emerging in the exchange sector, and pledged to provide strong support and investment to relevant outstanding teams. Regarding the current allocation strategy, Yi Lihua revealed: POW sector selects BTC and BCH, public chain layout focuses on ETH, stablecoin selection is WLFI, exchange-related allocation leans toward BNB, while continuously monitoring potential next-generation exchange star projects in the industry. $BTC $BCH $ETH {spot}(BTCUSDT) {spot}(BCHUSDT) {spot}(ETHUSDT)
【Yi Lihua: Aster has been stopped, looking forward to a new star exchange project on the Binance team level】

ChainCatcher news, Yi Lihua, founder of Liquid Capital, posted on X platform stating that he has executed a stop-loss on the Aster project, and the project team is currently unable to contact its founder.
JackYi also expressed great anticipation for a new "Binance team-level" project emerging in the exchange sector, and pledged to provide strong support and investment to relevant outstanding teams.
Regarding the current allocation strategy, Yi Lihua revealed:
POW sector selects BTC and BCH,
public chain layout focuses on ETH,
stablecoin selection is WLFI,
exchange-related allocation leans toward BNB,
while continuously monitoring potential next-generation exchange star projects in the industry.

$BTC $BCH $ETH
Article
【2026 Japan 'Digital Year': How should investors view this currency structure transformation?】While the market is still debating whether this round of bull market has ended, Financial decision-makers around the world have long set their sights on a longer time horizon. Japan's Minister of Finance and Financial Services, Satsuki Katayama, officially announced at the beginning of 2026: In 2026, Japan will be positioned as the 'Digital Year.' This is not a slogan, nor is it a symbolic statement. This is a system signal from the highest financial decision-making level in Japan. The world of currency that has been controlled for a long time In the past decade, the global finance has been built on an unprecedented environment— currency and interest rates have been deliberately suppressed and manipulated for a long time.

【2026 Japan 'Digital Year': How should investors view this currency structure transformation?】

While the market is still debating whether this round of bull market has ended,
Financial decision-makers around the world have long set their sights on a longer time horizon.
Japan's Minister of Finance and Financial Services, Satsuki Katayama, officially announced at the beginning of 2026:
In 2026, Japan will be positioned as the 'Digital Year.'
This is not a slogan, nor is it a symbolic statement.
This is a system signal from the highest financial decision-making level in Japan.

The world of currency that has been controlled for a long time
In the past decade, the global finance has been built on an unprecedented environment—
currency and interest rates have been deliberately suppressed and manipulated for a long time.
Article
【The World is Changing Its Foundation: Why Bitcoin Became the Only Escape】The world is not getting worse; rather, the foundation is being rewritten. In the past year, news of bankruptcies, layoffs, closures, and defaults has become increasingly frequent. From tech companies to traditional industries, From startups to established companies, Almost no industry can be exempt from it. Many people think this is just a business cycle, it’s just an ordinary recession. But if you extend the timeline, you'll find— This is not a cycle, but rather the structure is being replaced. Currency has been under long-term control, and the market has lost its real gravity. Over the past decade, global finance has been built on an unprecedented environment:

【The World is Changing Its Foundation: Why Bitcoin Became the Only Escape】

The world is not getting worse; rather, the foundation is being rewritten.
In the past year, news of bankruptcies, layoffs, closures, and defaults has become increasingly frequent.
From tech companies to traditional industries,
From startups to established companies,
Almost no industry can be exempt from it.
Many people think this is just a business cycle,
it’s just an ordinary recession.
But if you extend the timeline, you'll find—
This is not a cycle,
but rather the structure is being replaced.

Currency has been under long-term control, and the market has lost its real gravity.
Over the past decade, global finance has been built on an unprecedented environment:
Article
[2025, the crypto market has actually stepped into the next phase]If we only look at the price, the crypto market in 2025 seems chaotic, extreme, and even a bit cruel. But if we take a longer view, looking at 'events' rather than 'price fluctuations,' this year actually revealed a very clear signal— The crypto market is transitioning from a speculative arena to foundational finance and infrastructure. DWF Ventures, in the article '2025: A Year in Crypto,' is doing exactly this: Not forecasting the future, but looking back to organize what really changed in the market. --- From emotion-driven to institutional entry. At the beginning of 2025, the market was still dominated by the frenzy of memecoins.

[2025, the crypto market has actually stepped into the next phase]

If we only look at the price, the crypto market in 2025 seems chaotic, extreme, and even a bit cruel.
But if we take a longer view, looking at 'events' rather than 'price fluctuations,' this year actually revealed a very clear signal—
The crypto market is transitioning from a speculative arena to foundational finance and infrastructure.

DWF Ventures, in the article '2025: A Year in Crypto,' is doing exactly this:
Not forecasting the future, but looking back to organize what really changed in the market.

---

From emotion-driven to institutional entry.

At the beginning of 2025, the market was still dominated by the frenzy of memecoins.
Article
【When AI Starts 'Doing Things by Itself', What Kind of Blockchain Do We Need?】Recently, in the Sui ecosystem, a name has begun to be noticed by a select few: Talus Network. It's not a new public chain, not an exchange, and not just another AI model; it attempts to solve a problem that will truly explode in the future— When AI is not just chatting but 'automatically executing actions', who ensures that every step it takes is trustworthy? --- Automation has actually long ceased to be a new market What many people don't realize is that automation has long been a super large market in Web2. Tools like Zapier, n8n, and UiPath have long allowed businesses to delegate 'processes' to systems rather than humans.

【When AI Starts 'Doing Things by Itself', What Kind of Blockchain Do We Need?】

Recently, in the Sui ecosystem, a name has begun to be noticed by a select few: Talus Network.
It's not a new public chain, not an exchange, and not just another AI model; it attempts to solve a problem that will truly explode in the future—
When AI is not just chatting but 'automatically executing actions', who ensures that every step it takes is trustworthy?

---

Automation has actually long ceased to be a new market

What many people don't realize is that automation has long been a super large market in Web2.

Tools like Zapier, n8n, and UiPath have long allowed businesses to delegate 'processes' to systems rather than humans.
Article
[a16z Looks at 2026: The Real Battlefield of Cryptocurrency is Transitioning from Transactions to Infrastructure] Recently, a16z crypto published a long article "17 things we’re excited about for crypto in 2026"; this is not an article calling for a bull market, nor is it recommending a specific chain or token, but a collective judgment on 'what problems crypto needs to solve next' from the perspective of infrastructure and industry evolution. If I were to describe the core viewpoint of this article in one sentence, it would be: > The next phase of cryptocurrency is no longer just the market, but the settlement and collaboration layer of the internet itself. --- 1. Stablecoins have succeeded, but the real key is 'how to be used in daily life'

[a16z Looks at 2026: The Real Battlefield of Cryptocurrency is Transitioning from Transactions to Infrastructure]

Recently, a16z crypto published a long article "17 things we’re excited about for crypto in 2026"; this is not an article calling for a bull market, nor is it recommending a specific chain or token, but a collective judgment on 'what problems crypto needs to solve next' from the perspective of infrastructure and industry evolution.
If I were to describe the core viewpoint of this article in one sentence, it would be:
> The next phase of cryptocurrency is no longer just the market, but the settlement and collaboration layer of the internet itself.
---
1. Stablecoins have succeeded, but the real key is 'how to be used in daily life'
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