吴说每日精选加密新闻 - 比特币财库公司估值压力持续加剧

Group 1 - Bitcoin Treasury Companies are facing increasing valuation pressure, with at least 37 out of the top 100 companies having stock prices below their net asset value (NAV) [1] - Macro analyst Alex Kruger describes this situation as a "distorted structure," similar to the collapse of the Grayscale Bitcoin Trust premium in 2020 [1] - Major companies, including MicroStrategy, are currently trading at a discount of approximately 17%, leading to expectations of consolidation and mergers in the sector [1] Group 2 - Grayscale's research director Zach Pandl predicts that 2026 may mark the beginning of the "institutional era" for cryptocurrencies, with Bitcoin expected to reach a new all-time high in the first half of 2026 [1] - Factors driving this potential growth include rising global macroeconomic demand for alternative stores of value, expectations of a weaker dollar, potential interest rate cuts by the Federal Reserve, and bipartisan legislative progress in the crypto market [1] Group 3 - In 2025, it is projected that over 160 trillion Korean won (approximately 110 billion USD) in crypto assets will flow out of South Korea due to regulatory restrictions, with local exchanges primarily limited to spot trading [2] - Korean investors are expected to contribute around 4.77 trillion Korean won (approximately 33.6 million USD) in fees to overseas centralized exchanges (CEX), with Binance capturing about 57.7% of this market [2] Group 4 - In 2025, losses from cryptocurrency phishing attacks are expected to decrease significantly by 83%, dropping to 83.85 million USD, compared to nearly 494 million USD in 2024 [3] - The number of victims is projected to decline to 106, a 68% year-over-year reduction, with Ethereum's strong rebound in Q3 2025 leading to phishing losses reaching an annual high of 31 million USD, accounting for nearly 29% of total losses [3] - The report highlights the emergence of attacks based on malicious signatures following Ethereum's Pectra upgrade, indicating that attackers are quickly adapting to changes at the protocol level [3]