Core Viewpoint - Ripple CEO Brad Garlinghouse emphasizes the importance of the CLARITY Act, stating that the industry is close to achieving meaningful regulation despite the recent withdrawal of support from Coinbase [1][3]. Group 1: Garlinghouse's Defense of the Bill - Garlinghouse describes the CLARITY Act as a "massive step forward" for regulatory clarity, arguing that even flawed legislation is better than the current chaotic environment [2]. - He believes that "perfection is the enemy of good," suggesting that the bill can be refined over time to provide necessary legal clarity [2]. Group 2: Industry Reactions - Coinbase CEO Brian Armstrong recently withdrew support for the bill, expressing concerns that it could worsen the regulatory landscape [4]. - Cardano founder Charles Hoskinson criticized the bill for potentially giving excessive control to the SEC, directly challenging Garlinghouse's optimistic view [4]. Group 3: Future Implications - The White House has indicated it may withdraw support for the CLARITY Act if there is no major industry consensus, highlighting ongoing friction over stablecoin yields and market structure rules [5]. - Garlinghouse argues that incremental progress through the bill is preferable to waiting for perfect legislation, reflecting Ripple's experiences with the SEC lawsuit [6]. - The future of the bill may be uncertain if major players like Coinbase and Cardano continue to oppose it, potentially lacking the necessary industry backing to move forward [7].

吴说获悉，Cardano 基金会宣布完成治理路线图的首个里程碑，新增向 11 名社区代表（DReps）委托约 2.2 亿枚 ADA（每人约 2,000 万枚），重点覆盖生态采用（Adoption）与运营（Operations） 两大方 向，使基金会当前委托给社区 DReps 的总量增至 3.6 亿枚 ADA。同时，基金会将对剩余约 1.71 亿枚 ADA 进行自我委托，确保所有资产参与治理。 （来源：吴说） ...

Market Overview - Bitcoin (BTC) and the broader crypto market experienced a decline, influenced by the European Union's plans for €93 billion ($110 billion) in tariffs in response to U.S. President Donald Trump's threats regarding Greenland [1] - The tariff concerns negatively impacted equities in Europe and U.S. futures, while safe-haven assets like gold and silver reached record highs [1] Bitcoin Performance - Bitcoin is currently trading at $93,000, reflecting a 2.5% decrease since Sunday [2] - The cryptocurrency fell below the $94,500 support level, indicating a potential return to a trading range between $85,000 and $94,500, which has been in place since mid-November [3] Derivatives Market - The crypto market pullback resulted in nearly $800 million in leveraged long bets being liquidated within 24 hours due to margin shortages [6] - Total notional open interest (OI) in crypto futures decreased by over 2% to $138.14 billion, with Bitcoin's OI increasing by 0.65% while OI for other major tokens dropped by 8%-13% [6] - The 30-day implied volatility for BTC and ETH has not significantly increased, indicating traders do not expect major price movements in the near term [6] Altcoin Market - The altcoin market showed mixed performance, with the CoinDesk 80 Index (CD80) down 4.64% over the past 24 hours, while the CoinDesk 20 (CD20) fell by 2.5% [2] - Monero (XMR) diverged positively from Bitcoin, rising over 13%, while DeFi tokens faced double-digit losses [6] - Medium market cap tokens underperformed compared to major cryptocurrencies, highlighting a liquidity issue following October's liquidation events [6] Liquidations and Market Impact - The tariff-induced selloff led to $815 million in liquidations, with $231 million attributed to Bitcoin and the remainder affecting the altcoin market [6]

Core Viewpoint - Cardano (ADA) is experiencing a slight decline but maintains a bullish structure, with buying pressure still present despite changes in holder behavior [1][2][4]. Price Movement - ADA has decreased approximately 2% in the last 24 hours and has been trending lower since January 6, yet the price has remained broadly flat over the past week [1]. - The price has defended the $0.383 support zone, which previously acted as resistance, preventing a deeper pullback [3]. Technical Analysis - Cardano is trading within a falling wedge pattern, which is typically considered bullish as selling pressure weakens [2]. - Momentum indicators, such as the Money Flow Index (MFI), show a divergence where ADA's price has trended lower while MFI has trended higher, indicating active dip buyers [4]. Holder Behavior - On-chain data reveals a divergence between long-term and short-term holders, with long-term holders increasingly distributing their assets. The spent coins age band for the 365-day to 2-year cohort rose sharply from approximately 1.92 million ADA to 4.51 million ADA, marking a 135% increase in just 24 hours [6]. - Conversely, short-term holders (30-day to 60-day cohort) have significantly reduced their selling activity, with spent coins dropping from around 55.42 million ADA to 4.28 million ADA, a nearly 92% decline, suggesting they may be absorbing supply rather than selling [7].

Core Insights - The cryptocurrency market is seeing renewed interest in Bitcoin and altcoins as 2026 begins, with indications that credible altcoins may be gaining traction [1] - The CoinShares Altcoins ETF (DIME) is positioned to benefit from this altcoin momentum, following the CoinShares Compass Index which focuses on higher-tier altcoins [2] Altcoin Market Dynamics - The Altcoin Season Index is nearing 40%, with altcoin market capitalization recovering to $1.3 trillion, suggesting that major altcoins like Solana (SOL) and XRP could outperform Bitcoin [3] - Solana is highlighted as a key player in the altcoin resurgence, expected to benefit significantly from the growth of prediction markets [4] Performance Projections - Solana led all major blockchain networks by revenue in 2025 and is projected to maintain this position in 2026, driven by trends such as prediction markets [5] - The technical outlook for Cardano (ADA) is improving, with potential for DIME components to reach $2 this year, indicating substantial upside from current levels [5] Market Conditions - The emergence of a golden cross in Cardano's price charts signals positive short-term trends, with increased trading volumes and a potential breakout above key resistance levels [6] - Current market conditions resemble those preceding significant altcoin rallies in 2017 and 2021, suggesting a possible activation of a delayed cycle in the upcoming quarters [7]

Core Insights - Cardano's ADA price is currently around $0.35, down approximately 60% year-to-date, despite significant infrastructure upgrades being rolled out [1] - The launch of Midnight, Cardano's privacy-focused sidechain, has generated strong demand and is valued near $1 billion [2] - Interoperability rumors have emerged, with Ripple's CTO acknowledging Midnight's design, indicating potential cross-chain collaboration [3] Price and Market Dynamics - ADA is currently trading between $0.35 and $0.38, with technical indicators showing a lack of buying momentum [4] - If ADA fails to maintain the $0.34 support level, the positive narrative surrounding upgrades and Midnight may not have an immediate impact [5] - Development continues for Cardano, but overall buying momentum for ADA remains weak, suggesting challenges ahead as 2026 approaches [6]

Core Viewpoint - The digital currency holding company Reserve 1 plans to go public through a SPAC merger in Q1 2026, focusing on a portfolio primarily composed of Bitcoin and alternative assets [1][3]. Company Overview - Reserve 1's business model is centered around holding cryptocurrencies, with an anticipated asset allocation of approximately 80% Bitcoin and 20% alternative assets, including Ethereum, Solana, ADA, and XRP [3]. - The company will not begin its Bitcoin accumulation strategy until the merger is finalized [5]. Market Predictions - The historical four-year cycle for Bitcoin is considered "officially declared dead," with expectations of less volatility in 2026 due to increased institutional adoption and regulatory clarity [5][6][7]. - Predictions suggest a potential new all-time high for Bitcoin within the year, which would challenge the traditional market cycle [8]. Regulatory Environment - Anticipated regulatory clarity in the first half of the upcoming year is expected to support the broader cryptocurrency ecosystem and enhance institutional adoption [7][11]. - The clarity bill is seen as a crucial factor for determining regulatory oversight of various cryptocurrencies, which could significantly impact market dynamics [10][11].

Core Insights - Charles Hoskinson, the founder of Cardano (ADA), has denied allegations of selling ADA at $3 and not repurchasing at the current lower price of $0.36, amidst a year-to-date decline of 58% in the token's value [1][2][4] Price Dynamics - ADA has experienced a significant decline of 58% year-to-date, with a 15.6% drop occurring in December alone [6] - The price has been on a downtrend since December 9, when it was rejected at $0.49, with current trading levels squeezed between the Supertrend indicator at $0.3756 and SAR dots at $0.3401 [6][7] - Recent price action shows a bounce from $0.3380, marking the second test of this support zone within a week [6] Market Sentiment - Bulls are attempting to defend the $0.3380-$0.34 support level, but weak buying pressure is evident as the price struggles to reclaim $0.36 [7] - A break below the $0.3380 support could lead to significant selling pressure towards the $0.30-$0.32 range, where historical price structure is minimal [7] - Resistance levels are identified at $0.3750-$0.38 and more significantly at $0.40-$0.41, where sellers are likely positioned [7][8] Trading Activity - On December 26, ADA saw a net outflow of $877.81K, continuing a trend of consistent selling pressure throughout the year [8]

Core Viewpoint - Galaxy Digital CEO Mike Novogratz suggests that XRP and Cardano (ADA) may lose competitiveness in future market cycles if they cannot demonstrate real-world application value [1] Group 1: Market Trends - The cryptocurrency market is shifting from "narrative-driven tokens" to "business-driven tokens," where only projects that generate profits and measurable value will succeed in the long term [1] - Novogratz anticipates a structural transformation in the cryptocurrency industry over the next 1-3 years, with wallets and exchanges evolving into "neobanks" that offer more mature financial services such as stablecoins, tokenized stocks, and money market products [1] Group 2: Investment Models - Novogratz cites Hyperliquid as an example of a project that creates value through profit-driven token buybacks and burns, resembling an equity investment model, which he believes is the future direction for tokens [1]

Core Viewpoint - Analysts believe the altcoin bear market may be entering its final phase despite a 30% drop in market capitalization from this year's peak, indicating potential investment opportunities for patient investors [1][2]. Group 1: Market Conditions - Only about 3% of altcoins on Binance are trading above the 200-day moving average, marking a historical low, attributed to a lack of liquidity and defensive investor sentiment prioritizing capital preservation [3]. - The majority of altcoins are trading well below their long-term averages, reflecting widespread undervaluation driven by negative sentiment, with strong fundamentals in coins like XRP, TON, and ADA failing to translate into price recovery [4]. Group 2: Investment Opportunities - Historical comparisons suggest that weak market periods often create attractive opportunities for patient investors, with such phases potentially lasting longer if the market enters a prolonged bear phase [5]. - Fear and lack of interest from retail investors often signal the best price zones for large investors to accumulate, as retail participation tends to return with early signs of market recovery [6][7]. Group 3: Technical Analysis - Multiple technical indicators suggest that the altcoin bear market may be nearing its end, with current market capitalization levels acting as strong support, described as an "area to hold" by market analysts [8].