Coinbase Global Inc (NASDAQ:COIN) and Robinhood Markets Inc (NASDAQ:HOOD) slumped on Thursday as fresh turmoil around a long-awaited U.S. crypto market-structure bill rattled investors. Here’s what investors need to know.Robinhood Markets shares are consolidating. What’s ahead for HOOD stock?Coinbase, Robinhood Stocks Drop After Armstrong Blasts Draft BillThursday’s sell-off followed Coinbase CEO Brian Armstrong's announcement that the exchange can no longer support the latest Senate Banking Committee draft ...

文 | 钱钱 编辑 | 阿景 现在出门带现金的人越来越少了，但你有没有想过，我们花钱时到底在信任谁？扫码付款要靠支付宝背 书，跨行转账得经过银行系统，连收发邮件都得依赖平台服务器。 这些"中间人"一旦出问题，我们的钱和数据就可能打水漂。 2008年金融危机后，有人受够了这种中心化的信任模式，写了篇论文说要创造一种"点对点的电子现 金"，这个人叫中本聪，他发明的东西就是比特币，而支撑比特币的技术，叫区块链。 比特币如何用代码实现"大家一起记账"？ 你可以把区块链想象成一个共享的笔记本，每次交易都要写在新的一页上。 这一页纸不仅有交易记录，还带着前一页的"指纹"（哈希值）。 只要有人想改以前的记录，后面所有页面的指纹都会对不上，全网的人立刻就能发现。 比特币最牛的不是它值多少钱，而是它第一次用代码解决了"陌生人如何互相信任"的问题。 以前我们转账，得让银行当裁判，现在区块链说，"不用裁判了，咱们把账本公开，每个人都来记一 笔。" 这种设计，专业术语叫"不可篡改"，但说白了就是"想作弊比登天还难"。 那谁来写这页纸呢？区块链搞了个"算力比赛"。 全世界的"矿工"用电脑算一道超级复杂的数学题，谁先算出来谁就能记账，还 ...

Group 1 - Bitcoin briefly surpassed $90,000, indicating a potential breakthrough after missing the "Christmas rally" that boosted the stock market to new highs [1] - Bitcoin's price increased by 3.1% to $90,200 but later narrowed to a 0.3% gain at $88,000 by the time of reporting [1] - The broader cryptocurrency market has not recovered from a sell-off that began in October, during which approximately $19 billion in leveraged positions were liquidated [4] Group 2 - Market sentiment is showing early signs of change, with increased demand for long positions in the perpetual futures market, as indicated by the highest funding rate since October 18 [7] - Grayscale's report anticipates 2026 as a pivotal year for the "institutional era" of crypto, driven by rising macro storage demand and significant regulatory improvements [7] - The report predicts Bitcoin could reach new highs in 2026, with potential for asset tokenization to grow by 1000 times by 2030 [7] Group 3 - Bitwise's CIO suggests Bitcoin may achieve steady but not explosive returns over the next decade, with lower volatility compared to previous cycles [8] - Fidelity's macro research head indicates Bitcoin may have completed its current four-year halving cycle, with October's peak of $125,000 possibly marking the cycle's top [8] - Historical patterns suggest "Bitcoin winters" last about a year, with 2026 potentially being a "year of consolidation" [8]

Core Insights - The cryptocurrency market is experiencing a quieter Christmas compared to previous years, with Bitcoin (BTC) fluctuating between $85,000 and $90,000, and Ethereum (ETH) showing a decline from its previous highs [2][3] - A survey conducted over a month gathered insights from various participants in the crypto community, focusing on their investment experiences and reflections on the past year [3][4] Group 1: Survey Demographics - Over 60% of survey respondents have been in the crypto space for more than three years, indicating a predominance of experienced investors [5] - Newer investors, defined as those with less than three years of experience, make up approximately 38% of the respondents, suggesting a decline in new market entrants [6] Group 2: Investment Performance - More than 57% of respondents reported making a profit, with 17.2% achieving over 50% gains and 39.7% seeing gains between 0-50% [8] - Approximately 27% of participants experienced losses, with 12.1% facing significant losses of over 50% [8] Group 3: Profitability by Sector - Meme coins remain a popular and profitable investment, with about 34% of respondents indicating they earned profits primarily from this sector [10] - Mainstream cryptocurrencies like BTC, ETH, BNB, and SOL accounted for profits for around 26% of investors, reflecting their performance during the year [10] - DeFi projects attracted about 16% of respondents as a source of profit, while 12% reported earnings from airdrop interactions [10] Group 4: Losses by Sector - Approximately 28% of investors reported significant losses in meme coins and altcoins, highlighting their high-risk nature [14][15] - Contract trading resulted in losses for about 26% of participants, which is lower than expected given the volatility of the market [14] - NFT and GameFi projects were also significant sources of losses, with around 22% of respondents indicating they suffered due to these investments [14] Group 5: Reflections on Losses - About one-third of respondents attributed their losses to not cutting losses in time, a common issue among crypto investors [16] - Over 45% of participants cited slow reactions, conservative trading, or following market trends as reasons for their losses [16] Group 6: Future Outlook - The most promising sectors for 2026 include Real World Assets (RWA), AI, and meme coins, with RWA being mentioned by 31% of respondents [22][23] - Many participants advocate for a dollar-cost averaging strategy, particularly in BTC, as a sound investment approach [24]

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Partnerships & Integrations - Pendle 将集成至 Unichain 网络 [1] - Pendle 已桥接多个 Principal Tokens (PTs)，为 Unichain 释放了一种全新的链上收益基础设施 [1] DeFi Ecosystem Expansion - Unichain 上将有更多的 DeFi 应用 [1]

XRP Ecosystem & DeFi - Hex Trust launches Wrapped XRP (wXRP), a 1:1-backed representation of native XRP [1] - wXRP is issued on LayerZero OFT Standard to unlock DeFi utility [1] - The initiative aims to expand XRP's utility across multiple blockchains [1] - Solana is the initial blockchain for wXRP deployment [1]

Partnerships & Integrations - Pendle is integrating with Unichain, bringing Principal Tokens (PTs) to the platform [1] - This integration introduces a new category of on-chain yield infrastructure to Unichain [1] DeFi Ecosystem Expansion - The integration of Pendle aims to enhance the DeFi offerings on the Unichain blockchain [1]

Project Overview - StarkWare 启动一个研究性质的 Starknet 交易协会，旨在提升 Starknet DeFi 生态系统 [1] Target Audience - 目标用户为活跃的 DeFi 用户，包括交易员、收益耕作者、机器人运行者和高级用户 [1] Objectives - 旨在改进 Starknet 的工具、基础设施和用户体验 (UX) [1] Call to Action - 邀请符合条件的用户加入 Telegram 群组，以帮助改进 Starknet [1]

DeFi Platform Overview - Bluefinapp is emerging as a significant DeFi platform on the SuiNetwork [1] - Bluefinapp's Total Value Locked (TVL) reaches $144 million, ranking it among the top DeFi platforms on Sui [1] - Bluefinapp offers perpetuals trading with up to 50x leverage [1] Token Analysis - $BLUE token is nearly one year old [1] - $BLUE token has a market capitalization of approximately $14 million [1] - $BLUE token is listed on most tier-one exchanges [1]