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Ethereum processes 70% more transactions per second than a year ago, but network revenue has decreased by 51% year-on-year. Currently, 2.84% of the annualized staking yield comes from protocol issuance, while the actual transaction fees paid by users contribute only 0.19 percentage points. This article breaks down the staking yields, network revenues, and on-chain activities of six chains: Ethereum, Solana, Hyperliquid, Avalanche, NEAR, and Tempo, pointing to the same question: With block space becoming cheaper and transaction fee revenues continuously declining, how will public chains and their tokens achieve value capture?

The world's largest pension fund, GPIF, manages $1.8 trillion in assets, and the Japanese government is pressuring it to repatriate a large portion of its overseas holdings. Once approximately $930 billion in overseas assets begins to flow back, U.S. Treasury yields will rise, the dollar will weaken, and risk assets will come under pressure. Currently, market pricing remains relatively calm, but key signals have quietly emerged. If the five-year cross-currency basis swap between the dollar and yen widens, liquidity in the U.S. stock market will tighten accordingly.

Ethereum is redefining the relationship between L1 and L2: moving from layered scaling to unified verification, interoperability becomes key, and the ultimate goal of L2 is a diverse execution environment that shares security and liquidity, rather than replacing or disappearing.

rToken has been online for a month with AUM exceeding 100 million. What to do in the next phase?

This is the peak of the correction rate, not the peak of the entire capital expenditure cycle. In other words, cloud vendors will not stop investing in AI, but the phase of the fastest investment growth may have already passed. Accordingly, the valuation of chip stocks needs to shift from "explosive growth" pricing to "mature growth" pricing—this transition process is often accompanied by significant capital migration and stock price volatility.

Erebor is a high-profile experiment that takes place at the intersection of banking, cryptocurrency, and industrial policy.

AI can generate a fake image, create a fake video, and even forge a person's voice. But it cannot make the entire Bitcoin network acknowledge a non-existent transaction out of thin air.

Peeling back its smooth trading interface to examine the underlying legal relationships and settlement processes, you will find that this is far from a simple "RWA asset revolution," but rather a complex game of interests involving spot pricing, rights ownership, and the monopoly of underlying custody.

When the dividends of rule arbitrage gradually approach zero, can we produce product strength, governance capability, and trust that are commensurate with its scale?

"We are here to strengthen defenses against where Ethereum has already become or may become extractive, comprehensive, or susceptible to cartel or state control, or influenced by tools of surveillance or coercion from authoritarian regimes."

In January, Bitget launched a dual-track model of "Direct Connection to US Stocks" and "rToken Token," precisely positioning itself at the intersection of traditional finance and the crypto world, strongly initiating a new experimental breakthrough in asset on-chain.

The cryptocurrency industry may gradually shift from the hype of native altcoins to real asset tokenization, on-chain machine economy, and a more mature industrialization phase.

Historical data reveals the "World Cup curse" in the cryptocurrency market, and the 2026 market is brewing a brand new change. Hurry to participate in the event betting on Huobi HTX and grab a massive prize pool of $600,000.

From Pinduoduo's "reverse insurance" to blockchain's smart contracts, this article explains how Huang Zheng's underlying logic uses "certainty" rules to reshape the flow of wealth for ordinary people.

The market logic is changing from being driven by funds to being driven by interest rates.

The "one-size-fits-all" labeling of on-chain analysis tools has led to widespread misidentification, causing many innocent users to suffer from "digital collective punishment," exposing a deep-seated crisis of accountability in regulatory technology. The Web3 industry urgently needs to establish precise and rational new compliance standards.

Binance and Bitget's underlying service provider in the US stock market, Alpaca, has entered the unicorn club with its "AWS of Finance" model, currently holding 94% of the tokenized US stock market share and is accelerating the transformation of global on-chain financial infrastructure.