Movemaker

This can be said to be the most significant structural change in the U.S. financial system since the emergence of electronic trading in the 1970s.

It not only provides an administrative "safe harbor," but also profoundly influences the geographical direction of global digital asset innovation in the coming years, marking 2026 as the inaugural year of "compliance innovation."

Japan's stablecoin market is showing a "dual-track" or "bifurcated" development pattern.

Classifying Polymarket as a speculative platform is a serious misunderstanding. Its core function is to compress and securitize the collective judgment of humans on future events into a tradable financial asset in real time. Therefore, to truly understand its pricing system, we must go beyond the superficial intuition that "0.9 dollars represents a 90% probability."

The vaults ecosystem on the Hyperliquid platform provides investors with a unique window to observe and participate in on-chain derivatives strategies executed by professional managers. This article conducts a systematic quantitative analysis and strategy deconstruction of the top-performing vaults within this ecosystem.

Both types of phenomena are caused by the same fundamental factor—insufficient market liquidity. The core market participants who systematically address this issue are market makers.