BitMine 董事长 Tom Lee 在 X 平台发文表示，通常在年度最后的假日交易时段，许多机构投资者会选择退出市场，市场主导力量转向算法交易和机器人交易程序，同时叠加年底因避税需求产生的抛售行为，这些因素共同构成了 12 月最后几天的市场动态。Tom Lee 此前在 BitMine 披露上周增持 44,463 枚 ETH 时也指出，随着年底假期临近，整体市场活跃度往往下降，避税抛售会对加密货币及相关股票价格形成阶段性压制，且这一影响通常在 12 月 26 日至 12 月 30 日期间最为明显，BitMine 正基于这一季节性特征调整市场策略。

交易员 CBB 在 X 平台发文表示，相关人员花费数月时间推广某种代币，但该代币在上线 24 小时内完全稀释估值未能突破 30 亿美元，并称该代币为纯粹的垃圾币。

据 Onchain Lens 监测，Bitmine (@BitMNR) 进一步质押 118,944 枚 ETH，价值 3.5216 亿美元。目前，Bitmine 已累计质押 461,504 枚 ETH，总价值 13.7 亿美元。此外，一个新创建的钱包从 FalconX 收到了 32,938 枚 ETH，价值 9780 万美元，该地址可能属于 Bitmine。

Ethereum’s layer-1 network recorded a new daily transaction high this week, even as transaction fees continued to trend sharply lower, underscoring improving network efficiency following recent protocol upgrades.The Ethereum mainnet processed 2.2 million transactions in a single day on Tuesday, marking a new all-time record, according to data from Etherscan. At the same time, average transaction costs fell to approximately $0.17, a level not seen since before the network’s peak congestion periods.Ethereum fees down sharply from 2022 peakTransaction fees on Ethereum have declined significantly from prior cycle highs. The most expensive period for Ethereum transactions occurred in May 2022, when average fees surged to more than $200 per transaction amid extreme network congestion and heightened speculative activity.Since then, fees have steadily compressed as the network underwent multiple upgrades aimed at improving throughput and efficiency. Fees have remained on a downward trend since Oct. 10, when average transaction costs briefly rose to around $8.48 during a major market-wide liquidation event.Despite lower fees, Ethereum’s network usage has continued to grow, suggesting that recent scalability improvements have allowed higher transaction volumes without triggering fee spikes.Layer-1 usage rebounds despite Layer-2 competitionHistorically, periods of elevated Ethereum fees pushed users toward cheaper alternatives, particularly layer-2 networks. However, the recent surge in mainnet transactions indicates renewed activity directly on Ethereum’s base layer.The combination of rising transaction counts and lower costs suggests that Ethereum is increasingly functioning as a high-capacity settlement layer, even as layer-2 ecosystems continue to expand.Developer activity has also accelerated. Data from Token Terminal shows that the number of new smart contracts created and deployed on Ethereum reached 8.7 million in the fourth quarter, marking a record for the network.Two major Ethereum upgrades in 2025Ethereum implemented two major protocol upgrades in 2025 that likely contributed to both the surge in transactions and the sustained decline in fees.The Pectra upgrade, activated in May, focused on validator enhancements, improved staking flexibility, and groundwork for future scalability features. The changes aimed to strengthen Ethereum’s validator set while improving long-term network resilience.The Fusaka upgrade further expanded Ethereum’s capacity by increasing the network’s gas limit from 45 million to 60 million. The upgrade was designed to boost scalability, improve data handling, and enhance overall network efficiency.In February, more than 50% of Ethereum validators signaled support for raising the gas limit, increasing the maximum amount of computation and transaction data that can be processed in a single block. The change allowed Ethereum to handle higher transaction volumes without driving fees higher.Efficiency gains reshape Ethereum’s cost dynamicsThe latest data highlights a structural shift in Ethereum’s performance profile. While transaction volumes continue to rise, fee pressure has remained muted — a sharp contrast to previous cycles when network usage and costs moved in lockstep.As developers increasingly rely on Ethereum as a settlement layer and validators support higher capacity limits, the network appears to be entering a phase where growth in activity is no longer constrained by prohibitively high transaction fees.

NFT minting continued to accelerate in 2025 even as buyer spending declined, pushing the market deeper into a high-volume, low-price dynamic.The global non-fungible token (NFT) market expanded sharply in total supply this year, while sales volumes and average prices fell significantly from 2024 levels, according to data from CryptoSlam.Total NFT supply climbed to more than 1.34 billion tokens in circulation in 2025, up roughly 25% year-on-year from around one billion in 2024. The increase in minted assets occurred alongside a notable contraction in overall market activity.NFT sales drop despite rising mint activityNFT sales totaled approximately $5.63 billion in 2025, representing a 37% decline from the $8.9 billion recorded last year, CryptoSlam data shows. Average sale prices also weakened, falling to $96, down from $124 in 2024.The widening gap between supply and demand highlights a market under pressure, where creator output continues to grow but buyer participation and spending have failed to keep pace. Lower entry barriers, cheaper minting tools, and broader blockchain support have encouraged higher issuance, while liquidity has become increasingly fragmented across a larger number of assets.NFT supply expanded more than 35-fold in four yearsThe expansion in NFT supply has been consistent and steep over the past four years.CryptoSlam data shows that total NFTs in circulation rose from 38 million in 2021 to more than 106 million in 2022, before accelerating further as creators scaled production. By 2023, supply had surpassed 550 million tokens, nearly doubling again in 2024 to reach one billion.As of late 2025, NFT supply stands at 1.34 billion tokens, representing roughly 3,400% growth, or a 35-fold increase, since 2021.While minting activity expanded rapidly, the market’s capacity to absorb new NFTs weakened over the same period. Total sales peaked during the 2021–2022 cycle and have trended lower since.Prices and liquidity continue to compressPricing data reinforces the shift in market structure. Average NFT sale values fell below $100 in 2025, well under the $124 average in 2024 and far below the $400-plus averages seen during the peak years of 2021 and 2022.Market capitalization also deteriorated throughout the year. After a partial recovery to $10.8 billion in December 2024 and holding near $9.2 billion in January 2025, total NFT market capitalization slid steadily, ending 2025 at approximately $2.4 billion.The continued decline underscores how thinner liquidity and falling prices have persisted even as overall supply continued to rise.NFTs shift toward a high-volume, low-price modelThe combination of rising supply, falling total sales, and shrinking average ticket sizes suggests that NFTs are increasingly evolving into a high-volume, low-price market, where competition for buyer attention and liquidity is intensifying.Rather than scarcity-driven speculation, the market is increasingly shaped by utility-based use cases, cultural engagement, and lower-priced mass issuance — a structural shift that continues to redefine how NFTs are created, traded, and valued.NFT market cap remains well below 2022 peakThe broader NFT sector has continued to unwind excess from the previous cycle. Total market capitalization has steadily declined since peaking at around $17 billion in April 2022, reflecting a prolonged correction following the speculative boom.While minting volumes remain elevated, the data suggests that sustained recovery in prices and liquidity will likely depend on renewed demand, stronger utility adoption, and improved capital inflows — rather than continued expansion in supply alone.

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U.S. spot Bitcoin exchange-traded funds (ETFs) snapped a seven-day outflow streak on Tuesday, recording $355 million in net inflows as analysts pointed to early signs of improving global liquidity and renewed institutional appetite.The rebound follows a difficult stretch for Bitcoin ETFs, which had seen $1.12 billion in cumulative outflows over the previous seven trading sessions amid falling prices, year-end positioning, and thin holiday liquidity.BlackRock, ARK and Fidelity Lead ETF ReboundAccording to data from SoSoValue, BlackRock’s iShares Bitcoin Trust (IBIT) led the recovery with $143.75 million in inflows. It was followed by:Ark 21Shares Bitcoin ETF (ARKB): $109.56 millionFidelity Wise Origin Bitcoin Fund (FBTC): $78.59 millionBitwise Bitcoin ETF (BITB): $13.87 millionGrayscale Bitcoin Trust (GBTC): $4.28 millionVanEck Bitcoin ETF (HODL): $4.98 millionThe inflows came after heavy selling pressure last week, including a $275.9 million outflow on Friday, the worst single-day drawdown during the streak.Despite Tuesday’s turnaround, December remains net negative, with spot Bitcoin ETFs shedding approximately $744 million overall as investors reduced exposure into year-end.Liquidity Conditions Show Early Signs of ImprovementMarket participants attributed the shift in ETF flows to improving global liquidity conditions.Arthur Hayes, co-founder of BitMEX, said in a post on X that U.S. dollar liquidity likely bottomed in November and has begun to edge higher, a development he views as supportive for crypto markets.“Dollar liquidity likely bottomed in November and is inching higher,” Hayes wrote, suggesting the setup favors a renewed push in digital assets.Other analysts echoed the view. Crypto commentator Mister Crypto noted that global money supply indicators are “going vertical,” pointing to expanding liquidity across major economies.He also highlighted upcoming U.S. Treasury bill purchases by the Federal Reserve, noting that the Fed is set to inject $8.165 billion into markets this week — a move that could further ease financial conditions.Ether ETFs Turn Positive as XRP ETF Inflows ContinueThe positive momentum extended beyond Bitcoin.Spot Ether ETFs ended a four-day outflow streak on Tuesday, posting $67.8 million in net inflows, according to SoSoValue data. That followed more than $196 million in cumulative outflows over the prior four sessions, including a $95.5 million drawdown on Dec. 23.Meanwhile, spot XRP ETFs continued to stand out, extending their inflow streak to 30 consecutive trading days with an additional $15 million added on Tuesday — reinforcing the trend of selective institutional allocation toward alternative crypto assets through regulated vehicles.

تسارعت عمليات سكّ رموز الـNFT في وقت تراجع فيه إنفاق المشترين، ما دفع السوق نحو نموذج يقوم على حجم تداول مرتفع وأسعار منخفضة. source: https://ar.cointelegraph.com/news/nft-supply-growth-sales-decline-2025?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Gold fractals, Bitcoin cost basis heatmap, and long-term moving averages offer clues on where BTC’s next major move may emerge in 2026. source: https://cointelegraph.com/news/4-bitcoin-price-charts-to-watch-heading-into-2026?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

1. Coinbase 比特币溢价指数已连续 17 日处于负溢价，暂报-0.1011%；2. LIGHT 短时突破 1 USDT，24H 涨幅超 120%；3. 三菱日联：美元恐将创下 2017 年以来最差年度表现；4. Bubblemaps：TGE 后 2.5 亿美元资金自 Lighter 平台撤出；5. Arthur Hayes 自 12 月 20 日以来累计建仓 1090.5 万枚 ENA，总价值 222.7 万美元；6. Matrixport：加密货币的结构性增长趋势依然完好；7. 某交易员在 Polymarket 通过预测下注单日获利 92.8 万美元；8. TRUMP 代币官方钱包向 Coinbase 累计存入 9400 万美元 USDC；9. Neo 创始人决裂：达鸿飞被指未履行财务披露承诺，Erik 被控独揽基金会财权；10. Arthur Hayes：购买 ZEC 就应使用隐私保护功能，否则投资将毫无意义。

تسعى شركة Bitwise للحصول على موافقة هيئة الأوراق المالية والبورصات الأميركية لإطلاق 11 صندوق ETF قائمًا على “استراتيجية” لتوكن واحد، مرتبطة بعملات بديلة رئيسية، في خطوة توسّع من خلالها مجموعة منتجاتها بشكل أعمق داخل سوق العملات البديلة. source: https://ar.cointelegraph.com/news/bitwise-files-11-strategy-crypto-etfs?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

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韩国计划限制其最大加密货币交易所的所有权，迫使主要股东出售部分持股。这些规则影响到 Upbit、Bithumb 和 Coinone 等平台，旨在减少集中控制，保护市场公平。

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Binance 前首席执行官赵长鹏（Changpeng Zhao）表示，如果巴基斯坦继续加快监管和采用加密货币的步伐，到 2030 年它将成为全球领先的加密货币中心。巴基斯坦已经成立了加密货币管理局，允许大型交易所运营，建立了比特币储备，并正在探索代币化以吸引外资。

稳定币的价值最终会受到比特币价格上限的限制，而比特币有能力突破这个上限。它们对比特币并不构成生存威胁。

央行,央行数字货币,数字人民币,政策,第一个大规模采用「收益型稳定币」的 是中国 金色财经,货币是用出来的，不是设计出来的。

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代币化股票,RWA,SEC,美股,深度解读：DTCC美股代币化背后的两种路径博弈 金色财经,在美国公开市场，投资者从未真正"拥有"过股票。