Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered Bank, stated that with the rise of digital asset reserves (DATs), Ethereum may benefit more than Bitcoin and Solana. His report noted that the recent decline in DATs' market net asset value (mNAV) will force companies to differentiate themselves and may drive consolidation among Bitcoin reserves. In contrast, Ethereum and Solana reserves may have higher mNAVs due to their ability to generate staking income, and the Ethereum reserve is more mature and has a more significant advantage. Currently, DATs hold 4% of Bitcoin, 3.1% of Ethereum, and 0.8% of Solana, and the size of their holdings has a significant impact on token prices. Kendrick believes that market saturation is the primary factor behind the valuation compression, but DATs still offer "selective investment value" as they provide access to digital assets in restricted regions. In the future, fund-raising capabilities, company size, and staking income will be key factors in differentiating DAT performance. He added that if some DATs remain below asset value for a long period of time, consolidation may occur, and strategic acquisitions may be more cost-effective than direct purchases. Overall, DATs will drive Ethereum’s outperformance over Bitcoin and Solana. (The Block)

According to crypto influencer AB Kuai.Dong, South Korean trader NamSEOKHEE, who had previously opened long positions in over 60 altcoins in anticipation of the altcoin season, has just closed all of his long positions, save for one in ENA (currently with a paper loss of $109,000). He had previously profited $712,000 a week ago using this strategy, but, convinced that altcoin season was imminent, he ultimately held on to most of his positions, resulting in all of his profitable positions turning into losses.

Bitwise submitted the S-1 application for Avalanche ETF (0002086017) to the US SEC.

Next Technology Holding (NASDAQ: NXTT), the parent company of Yueshang Group, a software-as-a-service provider, has filed for a $500 million shelf offering, intending to use a portion of the proceeds to purchase Bitcoin. The company's current market capitalization is reported at $77.1597 million.

OKX market data shows that BTC has broken through 115,000 USDT and is currently trading at 115,012.9 USDT, a 24-hour increase of 0.51%. (This newsletter is generated by AI)

Coinbase announced that Boundless (ZKC) will be available for spot trading, subject to liquidity availability. ZKC is now available on coinbase.com, the Coinbase app, and Coinbase Advanced, with institutions able to access it directly through Coinbase Exchange. The token is an ERC-20 asset.

According to CryptoRank, among the top ten tokens in terms of historical IDO returns on Binance Wallet, seven are from BNB Chain: MYX Finance (2102x), OKZOO (413x), Alaya AI (40x), Myshell (36.8x), RICE AI (34.5x), Elderglade (24.5x), and Lorenzo (22x), with historical returns ranging from 20x to 2000x. Furthermore, among the top 20 BNB Chain projects in terms of IDO returns, Meet 48, MilkyWay, Particle, and Bubblemaps all achieved returns exceeding 15x. According to Dune data, Binance Alpha has listed over 300 projects, nearly two-thirds of which are BNB Chain tokens. Currently, the top five projects in terms of Alpha trading volume are all from the BSC ecosystem, and eight of the top ten projects are from the BSC ecosystem, fully demonstrating the dominant position of BNB Chain in the Alpha ecosystem.

Spot gold broke through $3,680/oz, up 1.00% on the day, breaking through the previous high and setting a new all-time high.

Pendle announced the official launch of its cross-chain PT functionality, with the first product being Ethena Labs' PT-USDe (November 2025), deployed on the Avalanche chain. Pendle stated its mission is to make PT a universal cross-chain collateral for DeFi, with the potential to expand to off-chain applications in the future.

According to on-chain analyst MLM, Circle has just transferred 2 million USDC from Arbitrum to HyperEVM across chains.

U.S. President Donald Trump has lodged a $15 billion lawsuit against The New York Times over defamation claims.

Israel has seized 137 cryptocurrency wallets linked to Iran’s Revolutionary Guards, holding an estimated $1.5 billion in USDT. Authorities froze part of the funds using Tether’s blacklisting feature, but most remain active, showing the limits of controlling crypto transactions.

Collector Crypt’s CARDS token, which links digital Pokemon cards to real ones, has surged 2,400% in just over two weeks. The platform’s popularity comes from gamified pack openings, instant buybacks, and global trading, sparking renewed interest in tokenised trading cards.

A deep understanding of the technical principles and trust logic behind its "stability" is a necessary prerequisite for grasping future digital financial innovation opportunities and potential regulatory risks.

The U.S. and China have reached a “framework” agreement over TikTok, Treasury Secretary Scott Bessent announced Monday during U.S.-China talks in Madrid.

What did pump.fun do? The September 2025 livestream resurgence not only onboarded a massive number of normies but also allowed the platform to be reborn from its chaotic experiment in 2024.

Layer 2, BASE, Ethereum L2, Base is considering issuing a coin. Can this reshape the competitive landscape of Ethereum L2? Golden Finance, Why is Base considering issuing a coin? What impact will this coin issuance have?

Two personnel changes added drama to highly nervous markets on the eve of the Federal Reserve's key interest rate decision this week.

Sol Strategies is already exploring the possibility of tokenizing its own shares on-chain.

In the Blue Sky Green case, these 61,000 bitcoins are undoubtedly important assets that the victims urgently need to fight for.