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Transform Ventures CEO Michael Terpin stated at the Consensus conference in Hong Kong that Bitcoin may need to return to the $50,000 or even $40,000 range to form a true bottom and begin a lasting recovery.Terpin believes that the current crypto market is developing according to historical patterns, and he is skeptical of recent bullish predictions, stating that Bitcoin typically reaches a bull market peak in the fourth quarter after halving, followed by a correction, which is consistent with previous cycles. He pointed out that in past cycles, it often took about a year for the bubble to burst and hit the bottom, and the current market environment is fragile, which may lead to another pain point. Terpin emphasized that Bitcoin's halving mechanism, which reduces miner rewards approximately every four years, creates supply shocks and enhances scarcity, and this design has historically been a key factor in driving bull markets.

Cookie DAO announced on platform X that it will transform into a prediction market platform, betting on the fastest-growing track in the crypto space.According to previous news from ChainCatcher, Cookie DAO announced the cessation of operations for Snaps.

According to Globenewswire, Nasdaq-listed TON Treasury company AlphaTON Capital has released an update on its strategic roadmap, disclosing that the company has raised a total of $44 million to date, aiming to expand AI infrastructure deployment and gradually transform into a privacy-focused AI infrastructure provider.In addition, AlphaTON Capital also revealed that it launched the open-source platform Claude Connector based on the TON blockchain through Telegram last week, enabling users to manage digital assets through natural language conversations.

Bitfinex's report indicates that Ethereum previously processed about 2.88 million transactions in a single day, setting a historical record, while the average transaction fee remained low, exhibiting an unusual characteristic of "high throughput, low fees," demonstrating that its long-term technological roadmap, especially Layer 2 scaling, is gradually showing results.As usage increases, the mainnet continues to operate smoothly, and the Ethereum mainnet is gradually transitioning to a neutral settlement and coordination layer. This modular architecture is closer to the layered logic of traditional financial infrastructure: the underlying layer focuses on security, certainty, and final settlement, while the upper layer takes on innovation and execution complexity. However, the report also warns that recent transaction volumes may include low-value activities such as address poisoning, particularly evident in stablecoin transactions, and caution is needed when measuring real economic usage solely by transaction volume.

According to CoinDesk, blockchain technology developer R3 announced plans to reposition itself as a tokenized and on-chain capital market based on Solana, focusing on high-yield institutional assets such as private credit and trade finance, which will be packaged into DeFi-native structures.It is reported that R3 currently supports assets exceeding $10 billion through its Corda blockchain platform and has established partnerships with HSBC, Bank of America, Intesa Sanpaolo, the Monetary Authority of Singapore, the Swiss National Bank, the European Clearing Bank, SDX, and SBI, aiming to bring Wall Street-level assets on-chain and to significantly introduce off-chain capital into on-chain markets.

According to the “RootData 2025 Web3 Industry Annual Report”, 2025 is a crucial year for the cryptocurrency industry to transition from extreme volatility to institutional development. Affected by macro shocks and factors such as the "1011 crash," Bitcoin's annual volatility reached 63%, ending the year down 8%, underperforming compared to gold (+53%) and Nvidia (+30%). Although BTC once hit a historic high of $126,000, its limitations were revealed under inflationary pressure.The report indicates that investors should prioritize compliance and transparent assets to avoid geopolitical and hacking risks.

Coinbase's Head of Investment Research, David Duong, stated, "Despite the recent lackluster performance of cryptocurrency prices, this remains an unusual and transformative period for the crypto ecosystem.I believe that the core characteristics of this asset class continue to be the accelerating institutional adoption and a broader, more diverse investor base that is reshaping overall demand. In other words, the full potential of the crypto industry is still far from being fully realized. One of the key factors driving the transition of the crypto industry from a niche market to an emerging pillar of global financial infrastructure is the evolving regulatory environment.As the global regulatory framework becomes clearer, the U.S. is shifting towards clearer regulation of stablecoins and market structure, while Europe is advancing and integrating the MiCA regulations. The way institutions formulate strategies, manage risks, and ensure compliance is undergoing fundamental changes. The direct result is that operational readiness is genuinely in place: clearer policy guardrails create realistic conditions for product innovation, market maturity, and deeply embedding crypto rails into payment and settlement systems. This is the cornerstone for building the next phase of institutional adoption."

According to CoinDesk, investment bank Cantor Fitzgerald pointed out in its year-end report that Bitcoin may be entering a longer downtrend, potentially facing a "crypto winter" in 2026. Analyst Brett Knoblauch stated that Bitcoin is currently about 85 days away from its cyclical peak, and the price may remain under pressure in the coming months, even testing the average breakeven point of Strategy holdings at around $75,000.However, Cantor believes that this round of adjustment is different from previous bear markets triggered by large-scale liquidations or systemic risks. The dominant force in the current market is shifting from retail investors to institutions, and there is a noticeable divergence between token price performance and underlying developments, with decentralized finance, asset tokenization, and crypto infrastructure continuing to advance.

According to CoinDesk, Cantor Fitzgerald pointed out in its latest year-end report that Bitcoin may be entering a months-long downtrend, with the market potentially heading into the "crypto winter" of 2026 ahead of schedule.Analyst Brett Knoblauch believes that Bitcoin has retreated about 85 days from its recent peak, and the price may continue to face pressure, even testing Strategy's average cost line of around $75,000.However, unlike previous cycles, this downtrend is less likely to be accompanied by large-scale liquidations or systemic collapses. Cantor noted that the current market is dominated by institutions rather than retail investors, and the "divergence" between token prices and on-chain fundamentals is widening, particularly in the areas of DeFi, tokenized assets, and crypto infrastructure.On the regulatory front, the passage of the U.S. "Digital Asset Market Clear Act" is seen as a key turning point, expected to reduce policy uncertainty and encourage banks and asset management institutions to engage more deeply in the crypto market.Cantor concluded that while 2026 may not usher in a new bull market, the institutionalization of the crypto industry, compliance pathways, and on-chain infrastructure are gradually solidifying alongside the cooling of prices.

Researchers and developers expect that 2026 will be a key year for Ethereum to achieve exponential scalability through zero-knowledge proofs (ZK). By then, some Ethereum validators will no longer re-execute transactions but will directly verify ZK proofs, fundamentally changing the way the blockchain operates, with scalability comparable to Ethereum's transition from PoW to PoS in "The Merge" in 2022.Ethereum researcher Justin Drake stated that the first validators will begin to verify ZK proofs for each block instead of re-executing all transactions, which will bring immediate scalability benefits to Layer 1 and lay the groundwork for 10,000 TPS in the future. Currently, the Ethereum mainnet has a throughput of about 30 TPS. During Devconnect, Drake demonstrated that ZK proof verification could be completed using an old laptop, and it is expected that by the end of 2026, about 10% of validators will switch to ZK verification mode (Lean Execution Phase 1). This transition will significantly reduce the hardware requirements for validating nodes while maintaining network decentralization.Ethereum Besu client engineer Gary Schulte pointed out that future compute-intensive tasks will mainly be handled by block builders and ZK provers, while regular validators will only need to perform lightweight checks, creating conditions for increasing gas limits and overall throughput. On the roadmap, Ethereum is currently still in Phase 0 (voluntary validation), expected to enter Phase 1 (partial validator switch) in 2026, and move into Phase 2 in 2027, which will require block producers to generate ZK proofs, achieving fully ZK execution.

The co-founder of the Bitcoin custody company Casa, Jameson Lopp, stated on social media, "I have been publicly discussing the risks posed by quantum computing to Bitcoin for 18 months.My main conclusion is: I sincerely hope that the development of quantum computing can stagnate or even decline, because adapting Bitcoin for the post-quantum era will be very tricky for many reasons." Quantum computers will not break the Bitcoin network in the short term. We will continue to observe its development.However, a comprehensive overhaul of the Bitcoin network (and an unprecedented migration of funds) may take 5 to 10 years. We should hold the best hopes, but also be prepared for the worst-case scenario.

Bybit CEO Ben Zhou stated at the Solana Breakpoint conference that Bybit is transforming from a pure exchange into an "infrastructure" that connects traditional finance with the crypto world. The company's focus this year is on global compliance and licensing acquisition, having already obtained licenses in the UAE and the European MiCA license, and is committed to helping unbanked populations enter the crypto world by connecting with local banks in emerging markets such as Latin America and Africa.Ben Zhou highlighted Bybit's DEX project "Byreal," which is incubated on Solana. He emphasized that although the project is incubated by Bybit, it is striving to maintain its independence. Byreal aims to address on-chain liquidity pain points and focuses on the RWA (real-world assets) sector, particularly assets like tokenized stocks. Furthermore, Ben Zhou believes that DEX and CEX are not in competition; CEX is responsible for attracting "crypto curious" individuals through an optimized user experience, and as users mature, they will naturally transition to a more liberated on-chain world.

According to the official announcement, BBVA Bank and OpenAI have announced a multi-year strategic partnership, planning to deploy ChatGPT Enterprise to 120,000 employees across 25 countries globally, making it one of the largest generative AI enterprise applications in the financial services industry.The collaboration aims to accelerate BBVA's transformation into an AI-native bank, leveraging AI technology to enhance customer experience, optimize risk analysis, and reshape internal processes.

According to Forbes, Ant International is applying AI and blockchain technology to the global payments sector.The company has launched several technological innovations: Antom Copilot AI agents support merchants in managing the entire payment lifecycle; it has collaborated with Google, Mastercard, and Visa to develop AI payment protocols; the Falcon predictive model has processed $15 trillion in transactions with a 90% accuracy rate, reducing foreign exchange costs by 60%; and the SHIELD risk management system enhances transaction security.Ant International CEO Peng Yang stated at the Singapore FinTech Festival 2025 that the company is actively participating in global regulatory initiatives, including the Monetary Authority of Singapore's Guardian project and the Hong Kong Monetary Authority's Ensemble project. Peng Yang believes that we are currently facing a post-internet technology revolution, bringing unprecedented opportunities and challenges to emerging markets and small businesses. The company is committed to promoting the widespread adoption of technological innovations to ensure that AI and blockchain can facilitate seamless cross-border payments and a fairer business environment.