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An investor successfully invested $22,500 in the Meme coin WhiteWhale on the Solana blockchain. After 21 days of operation, the unrealized profit has exceeded $560,000, with a growth of 24 times. This reflects the trading opportunities and high risks coexist in the Solana ecosystem.

On-chain data shows that a seasoned short whale has adjusted its trading strategy, gradually reducing LIT short positions while maintaining large BTC short positions. Its BTC position has an unrealized profit of $11.53 million, indicating a strong prediction of market movement, which is worth paying attention to.

The 2026 tax season will be the biggest challenge for crypto investors, mainly due to the new Form 1099-DA requirement to report all crypto transaction data to the IRS. Tax reporting rules are changing, including calculating costs separately by wallet and account, which means a tedious process of organizing historical transactions. Additionally, tax advisors are scarce, and the tax treatment of crypto donations and DeFi is still unclear, so early preparation is necessary to avoid penalties.

Grayscale files S-1 registration statement, planning to convert the Bittensor Trust Fund into the first TAO-related ETF, with the ticker symbol GTAO. This move demonstrates confidence in the future potential of TAO, while balancing liquidity and risk management, reflecting the growing institutional interest in decentralized AI.

A certain financing platform performed exceptionally well in 2025, raising over $105 million throughout the year, with more than 153,000 participants, and a total subscription amount of $432 million. The newly launched Vaults product immediately locked in $20 million upon release. The platform plans to transition to multi-product capital, focusing on high-quality asset issuance and long-term user value creation.

A certain wallet platform experienced user private key leaks due to data center migration. Hackers took the opportunity to transfer assets, resulting in a loss of $250,000. The platform has initiated asset isolation and completed the compensation application. Users are reminded to pay attention to security measures.

【Crypto World】Recently, a piece of data has sparked quite a bit of discussion in the community. According to statistics from BitcoinTreasuries, Michael Saylor's personal Bitcoin holdings have surpassed the total Bitcoin held by governments around the world.
What does this mean? From a market structure perspective, the original major Bitcoin holdings included national institutions such as El Salvador and the United States, but now a single individual investor's holdings are comparable to theirs. This reflects the rapid expansion of individual capital influence in the crypto market and also confirms the increasing attractiveness of Bitcoin as a store of value to institutional investors.
From another angle, this also demonstrates a shift in the depth of the Bitcoin market—it's not just government adoption, but large individual holdings are reshaping the distribution of market positions. Whether optimistic about long-term trends or pursuing diversification in asset allocation strategies, the concentration of large holdings is a key factor market participants need to consider.

【Blockchain Rhythm】On-chain address monitoring data shows that a well-known short seller address "Ultimate Short" recently opened a short position at an LIT price of approximately $3.03. Currently holding 31,000 LIT shorted tokens, equivalent to about $87,000, with an average price of $2.95 and a liquidation price set at $4.75. This position has already yielded some gains. Notably, this address also has a pending short order of 10,000 LIT tokens at a price of about $3.06, which has not yet been executed.
At the same time, this address still holds approximately $43.68 million in BTC short positions, with unrealized profits of up to $12.05 million, and a return rate of 552%. The average price of the BTC short positions is $111,500, with a liquidation price set at $102,400.
Since November, this address has realized profits at local lows five consecutive times, without re-entering new short positions. Compared to the $136 million position size at the end of October, the current BTC

[BitPush] An interesting phenomenon — among the top 20 companies holding the most BTC worldwide, there are now Chinese faces.
Cango and Next Technology Holding, two US-listed companies, hold 7,419 and 5,833 BTC respectively, ranking 16th and 18th. Both have allocated assets through overseas entities, carving out a new path under domestic regulatory frameworks.
Among them, Cango's story is even more dramatic. Originally an automotive finance company, it made a spectacular transformation in 2024 — directly entering the Bitcoin mining sector. It acquired a large number of mining machines from Bitmain in one go, boosting its hash rate to the second tier globally at 50EH/s. After the acquisition, control also shifted to the Bitmain system, with Jin Xin from Bitmain becoming the new chairman of the board. This is not just simple investment, but direct participation in

【链文】链上又出现有趣的动作。一个大户在Hyperliquid上悄悄开启了300枚BTC的多单，直接冲进了BTC多头TOP 5的位置。这笔单子规模达到了0.26亿美元，平均开仓价落在87965.3美元。不过时机似乎有点微妙——目前这个仓位已经浮亏了23.9万美元，清算价设在86073.7美元。
有意思的是，这位大户给自己的交易划了条明确的道：跌到79419美元就分批止损，涨到109496美元就分批止盈。这个区间足足跨越了3万美元，换句话说，他预留了充足的波动空间。从止盈目标来看，他赌的是BTC这波能再涨25%左右。到底这个仓位能否如愿，还得看后续行情怎么走。

Trump's consideration of firing Federal Reserve Chair Powell has sparked market concern, hinting at its impact on economic policy. Investors should pay attention to Federal Reserve policy developments to stay in sync with the market rhythm.

【Chain Wen】Latest data shows a clear divergence between Bitcoin and Ethereum ETFs recently. In a single day, BTC ETF experienced a net outflow of 3,495 units (equivalent to approximately $306 million), while ETH ETF also saw a net outflow of 17,969 units (about $52.74 million), both with significant outflows. Looking at a longer timeframe, over the past 7 days, BTC has a total net outflow of 8,778 units (around $768 million), and ETH has a total net outflow of 29,287 units (about $85.96 million). This outflow trend is mainly led by BlackRock and Grayscale.
Interestingly, Solana has bucked this trend and strengthened during this adjustment. SOL

【Blockchain Rhythm】On-chain monitoring data shows that a well-known BTC veteran recently carried a long position pressure of $740 million. This whale holder is currently in a somewhat awkward situation — unrealized losses have expanded to $54.5 million, and they have already paid $3.2842 million in funding fees. Interestingly, during yesterday's market rally, this unrealized loss once narrowed to $25 million, indicating how much market volatility can impact their position.
Specifically, the distribution of this whale's holdings is as follows:
ETH long position is the largest, holding $594.75 million, with an opening average price around $3,147.39, currently with an unrealized loss of $45.2 million. In comparison, the BTC long position is smaller, with an $87.38 million position, opening price around $91,506.7, with an unrealized loss of $4.13 million. The SOL long position is $62.82 million, with an opening price of $130.19, with an unrealized loss of $378.

【Crypto World】A leading exchange recently launched an upgraded on-chain yield product in collaboration with MORPHO and the Arbitrum ecosystem. What's different about this update? Simply put, it breaks the traditional lock-up model.
The biggest change is flexibility—users can subscribe and redeem USDT and USDC at any time, without feeling trapped. What's the underlying logic? The system generates a unique on-chain address for each user, and funds are automatically deployed to the MORPHO protocol after subscription, earning interest in real-time according to blockchain rules. The redemption process also runs on-chain, and funds can be received instantly.
In terms of yields—USDC products offer up to 12% APR, and USDT products up to 11% APR. For stablecoin holders, these returns are quite attractive.
User experience has also been improved. All gas fees are covered by the platform, significantly lowering the participation barrier.

【Blockchain Rhythm】 There is an interesting phenomenon in the recent market. According to the analysis of the Market Sentiment Index (which combines media opinion, social data, and other sentiment indicators), the current consensus has generally shifted to bearish.
Behind this phenomenon, there is a pattern worth noting—when a broad consensus forms, the market often moves in the opposite direction. Historical data is quite convincing: the period from July to October 2024, as well as February to April 2025, clearly reflect this logic. The direction most people bet on ultimately gets slapped in the face by the market.
However, it is important to note that the "extremely pessimistic index" phase may last for a while. This is especially true when the market is in a long-term bear market pattern. Currently, the market has only just entered this cycle since early November. Although historically this indicator will eventually point to a bullish trend, in a bear market environment, maintaining restraint and patience is really key—don't let short-term emotions influence your judgment.

【Crypto World】The crypto market in 2025 is truly a tale of two extremes. Look at those lesser-known coins, their gains are astonishing—PIPPIN in the Solana ecosystem became popular due to a viral AI image, soaring 5384% in a year, reaching a high of $0.6109. There’s also AB, which supports the modular blockchain ecosystem, with a surge of 2716%.
On the other hand, the leading assets are struggling. Bitcoin has fallen 4.59% this year, and Dogecoin has been cut in half since the beginning of the year, with a decline of 60%. This stark contrast is quite eye-catching—small coins are creating wealth myths wildly, while mainstream coins are shrinking. The market is telling a very clear story: hot spots rotate, opportunities shift, whoever catches the new trend will profit.

Spot market volatility has increased, with various cryptocurrencies reaching key levels, including NTRN down 13.94%, and HIVE dropping 16.28%. STEEM, BANK, SNX, and GAS also declined. Meanwhile, ILV performed strongly, rising 6.25%, and GMT experienced a slight rebound, indicating signs of capital bottom-fishing.