Blockchain

This article offers a comprehensive analysis of the structural transition in the global asset system from a single-dollar anchor to a multi-asset anchor, highlighting gold’s strategic resurgence amid high debt levels, geopolitical cycles, and reserve diversification. It explores the long-term motivations driving central banks to increase their gold reserves. The article also systematically details how on-chain gold is evolving into the foundational infrastructure for gold in the digital age. As asset allocation advances toward a cross-system and multi-anchor era, gold’s role remains constant, but its underlying form is being redefined through digital transformation.

This article debunks the misuse of "Metcalfe's Law" in crypto valuation, arguing that prices have run ahead of real utility and revenue. It systematically exposes the lack of a self-reinforcing ecosystem—compared to networks like Visa—by highlighting structural flaws like low user loyalty and forkable competition.

This article explores Ethereum's distinct strengths in Digital Asset Treasuries (DATs) and discusses its pivotal position in the decentralized finance (DeFi) ecosystem.

The article not only delves into key aspects such as community building before token issuance, market sentiment management, and tokenomics design but also reveals the fundamental differences between successful and failed projects through real-world case studies and data.

This article explores payment scenarios in Tokyo, Vietnam, and Nigeria to reveal the stark contrast in global financial experiences. It demonstrates how Web3 and stablecoins are transforming cross-border payment infrastructure, moving beyond conventional narratives. The analysis focuses on the challenges faced by emerging markets, such as limited access to bank accounts, high cross-border transaction fees, and underdeveloped payment networks. Stablecoin wallets can directly integrate with local instant payment systems. This allows users to send and receive funds instantly at low cost, all without relying on traditional banks. By examining QR payments in Vietnam and off-chain bank transfers in Nigeria, the article delves into the future direction of PayFi and considers the potential for wallets to function as "invisible banks."

This article offers a comprehensive analysis of the challenges MicroStrategy faces during Bitcoin's downturn, including the rapid narrowing of its mNAV premium, the stock trading at a negative premium, executive share sell-offs, the risk of being removed from market indexes, and reduced capacity to increase Bitcoin holdings. It also examines key market debates—such as whether the company's debt risk is overstated, if forced Bitcoin sales are likely, the safety of its convertible bond structures, and the implications of its latest financing strategy (perpetual preferred stock) for its liquidity. Drawing on multiple perspectives, the article presents a well-rounded view: while market confidence is under strain, MicroStrategy’s debt burden remains manageable, institutional investors continue to add to their positions, and the possibility of S&P 500 inclusion still exists.

The article not only provides a detailed analysis of privacy-preserving technologies but also explores practical application scenarios of privacy protection in blockchain applications.

This article presents an in-depth analysis of the EigenLayer project—an innovative platform that pushes the boundaries of decentralized trust by introducing restaking and liquid restaked tokens (LRT). EigenLayer uses a dual-token model and the principle of intersubjectivity to tackle challenges in blockchain governance and decentralized trust. EigenLayer empowers validators to leverage ETH, which secures the Ethereum network, to also safeguard actively validated services (AVS). This boosts capital efficiency and fosters a more interconnected, resource-efficient ecosystem. Additionally, the article covers EigenLayer’s dual-token architecture, protocol forks, and their integration within the wider cryptocurrency ecosystem.

This article provides a systematic overview of a decentralized society (DeSoc) centered on the “Sovereign Individual” concept. It explores a new paradigm for human digital transformation, integrating the layers of identity, economy, and governance. DID, ZK, and SBT technologies construct on-chain identities. The discussion includes credit-based and reputation-based economic systems and dynamic governance mechanisms shaped by DAOs. The piece outlines a future social framework that evolves from individuals moving on-chain to competition among digital city-states. It highlights the transformative impact of the Bitcoin era on institutions and the widespread acknowledgment of individual autonomy.

This article offers a thorough examination of Bitcoin’s actual implications during the 2025 market correction, advancing the central thesis that a secondary bottom could present the best opportunity for strategic positioning in 2026. By assessing factors such as risk asset correlations, the AI cycle, fiscal and monetary policy shifts, the growth of tokenization and stablecoin adoption, and increasing regulatory clarity, the analysis reveals why Bitcoin is consolidating ahead of its next major upward move. The piece further identifies that macroeconomic and technological turning points will combine to propel the market into a robust trend in 2026.

This article begins with an exploration of Singapore’s Le Freeport vault, examining how Bitdeer founder Jihan Wu, crypto magnate Micree Zhan, and organizations like Tether are shifting the balance of influence between gold and digital assets. It unveils the off-chain gold strategies of Asia’s wealthiest individuals and examines how on-chain gold, XAUT, is becoming a key source of liquidity. The article highlights the competition among central banks, billionaires, and rising crypto players in the projected surge in gold demand in 2025.

This article argues that providing infrastructure and services—the "pick-and-shovel" business model—is the most resilient strategy through market cycles, from NVIDIA to Binance. The analysis covers NVIDIA, crypto exchanges, mining hardware manufacturers, and infrastructure supply chains. It explains why companies selling computing power, mining equipment, or network capacity maintain stable profits during both the AI and crypto gold rushes. The article concludes with actionable insights for investors and entrepreneurs.

Ethereum’s price has dropped nearly 40% from its peak as ETF inflows, treasury purchases, and on-chain buying have all cooled significantly. BitMine now serves as the market’s last major buyer. Yet, with its stock price down 80%, unrealized losses nearing $3 billion, and a widening mNAV discount, market participants have grown increasingly concerned about BitMine’s liquidity and long-term strategy. This article systematically analyzes funding sources, staking returns, and institutional trends; it also examines the withdrawal of ETF, treasury, and on-chain ETH buying forces. It further explores whether BitMine is mispriced. Finally, the article discusses how much longer BitMine can remain the primary buyer of last resort for Ethereum.

The article not only discusses the impact of individual psychology and emotions on investment decisions, but also explores how market narratives, beliefs, and collective behaviors influence the cryptocurrency market.

This article systematically examines the technical foundations of decentralized social protocols through three key dimensions: identity systems, data storage, and recommendation algorithms. It delves into the structural challenges that have emerged during the rapid growth of Social Fi applications, such as feature replication, inappropriate token usage, and lack of cultural context. By analyzing examples including Nostr, Farcaster, Bluesky, and Kaito, the article projects the future evolution of decentralized social networks—especially in payment integration and on-chain transaction access. It offers a comprehensive technical and product-level framework to guide the next stage of Social Fi development.