There are many recent market hotspots. It might be helpful to review a few key upcoming directions.

First, let's look at the stablecoin sector. The prediction from Solana's co-founder is quite interesting—by 2026, the total market cap of stablecoins is expected to surpass $1 trillion, which means stablecoins will become the core infrastructure for cross-border settlements and derivatives collateral. Simultaneously, the tokenization of real-world assets (RWA) is also advancing. According to Joseph Chalom, this market could reach $300 billion next year, indicating significant growth potential.

Where are the risk points on the trading side? Ethereum contract trading volume has hit a record high. At first glance, it seems lively, but hidden behind this is excessive leverage speculation—price increases that fall short of market expectations are largely due to this reason. CryptoQuant founder pointed out an interesting phenomenon: in volatile markets, retail investors often buy high and sell low, while whales play the opposite—buy low and sell high. The strategic differences lead to vastly different outcomes.

The volatility of individual assets is also sending signals. The FLOW token plummeted over 40% in a short period, currently trading at $0.103. The exchange Bithumb immediately suspended deposits and withdrawals of FLOW. Events like these serve as black swan warnings, reminding everyone how important risk management is.

Institutional movements are worth paying attention to. Bitcoin miner Cango has added 129.4 BTC, bringing its total holdings to 7,419.4 BTC, reflecting industry capital's mid-term attitude toward Bitcoin. On the other hand, SharpLink completed a $104.4 million ETH unstaking operation this morning, and large asset rebalancing continues.

Overall, the market is undergoing a transition from speculation to infrastructure. The rise of stablecoins and RWA represents new directions, but leverage risks and asset volatility also require vigilance.