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The year 2025 has quietly come to an end, and BNB Chain has ushered in a reshuffling of its ecosystem landscape. From a paradise for retail traders to a platform now attracting heavyweight institutions like BlackRock, Circle, and China Merchants Bank International, this chain is experiencing block production growth, demonstrating a story of coexistence between crypto and traditional finance. Earlier this month, BNB's price retreated to $891.40, but the nearly $1300 high set in 2025 precisely reflects the explosive growth this ecosystem has experienced over the past year.
Compared to the fierce competition for traffic entry in the industry, BNB Chain has carved out a unique path—allowing retail trading activity and institutional asset accumulation to progress simultaneously, with project teams serving as the hub connecting the two. This collaborative dynamic is one of the most noteworthy phenomena in the current blockchain ecosystem.
2025 Block Production Growth Panorama: Scale, Speed, and Depth
BNB Chai

From the perspective of mining theory, examining the Bitcoin market, we need to understand a simple yet long-overlooked fact: the influence of miners on Bitcoin's price does not stem from their mining capabilities itself, but from the fundamental rules of market economics. This article re-examines key data before and after the 2020 halving, and combines it with the current situation five years later (January 2026), when BTC is valued at $90,200, to deeply interpret the true role evolution of miners in Bitcoin's pricing power.
Economic Foundations of Mining Theory: From Cost Structure to Market Equilibrium
The upstream of the Bitcoin mining industry chain consists of individual miners, mining farms, mining pools, and mining equipment manufacturers. The first step in understanding mining theory is to recognize the true composition of miners' income.
Miners' mining revenue includes two parts: mining rewards and transaction fees. Under the FPPS (Full Pay-Per-Share) model, miners receive both; but in the PPS (Pay-Per-Share) model, they receive a fixed amount regardless of transaction fees.

Japanese Finance Minister Katayama Satsuki announced on January 5th that 2026 will be the "Digital Year," emphasizing support for digital assets and cryptocurrency development, and planning to break through long-term deflation through forward-looking fiscal policies. At the same time, she promotes shifting citizens from savings to investments to activate the economy, and highlights the importance of exchange infrastructure, looking forward to drawing on the successful experience of the United States to promote financial technology development.

Entering 2026, although the NFT market has seen a slight rebound, liquidity shortage remains the main challenge. Market trading volume is sluggish, with only a few projects active, and the vast majority of NFTs have become illiquid assets. Web2 giants are withdrawing, and funds are shifting to physical collectibles and high-yield virtual assets. Speculative opportunities still exist, but NFTs with practicality and clear value will become the market focus, and rational investing will be key.

This week's market volatility has intensified, and the crypto market is facing technical adjustments and geopolitical risks. Bitcoin has tested the $90,000 support level multiple times; a break below could increase downside risk. The escalation of tensions in the Middle East and the upcoming non-farm payroll data release have caused market sentiment to become uneasy. Meme coins have also become a short-term speculation focus, indicating a negative impact on market sentiment. Investors should stay alert and implement proper risk management.

Cathie Wood-led Ark Invest has actively purchased multiple crypto-related stocks during the market correction, totaling over $55 million. She firmly believes that technological innovation will drive future growth and views short-term price fluctuations as long-term investment opportunities, demonstrating confidence in the crypto industry.

Recently, the Bitcoin market has experienced a clear correction. The bear market that has been ongoing for over two months shows price fluctuations around $88,470, with an annual decline of 13.45%. Analysis indicates that the bear market bottom may be between $56,000 and $60,000, with the current price still having a 32% downward potential to reach the bottom. On-chain data monitoring shows that institutional and long-term holder behaviors differ, which may influence the timing of the bottom formation.

The Bitcoin halving mechanism, occurring approximately every four years, halves miners' block rewards, creating supply limits and scarcity. As the fourth halving approaches in April 2024, miners face rising difficulties and declining rewards, prompting strategic adaptations. Despite challenges, the industry's evolution over 12 years reflects ongoing innovation and resilience.

Matrixport's 2026 market outlook predicts significant volatility for digital assets, influenced by macroeconomic shifts, regulatory changes like the EU's MiCA framework, and major events such as the Mt.Gox repayment and Bitcoin halving. Investors should adopt flexible strategies to navigate this turbulent landscape.

On November 21, the US XRP spot ETF market saw significant inflows totaling $11.89 million, reflecting strong investor interest. The Bitwise XRP ETF led with a daily inflow of $11.28 million, achieving a total of $117 million, while overall market assets reached $384 million, marking an increasing institutional interest in crypto assets.

The true victory of Bitcoin lies not in short-term price fluctuations but in the establishment of a solid institutional foundation, a realization that is finally beginning to permeate the entire industry. Michael Saylor, founder and chairman of MicroStrategy, positioned 2025 as a historic turning point, pointing out that multiple significant developments have been achieved simultaneously, from the revival of insurance to the integration of the banking system and even official recognition by the government.
According to Saylor, the number of companies holding Bitcoin on their balance sheets is expected to increase from 30-60 in 2024 to approximately 200 by the end of 2025. This rapid wave of institutionalization is not merely speculative activity but functions as a rational business decision directly linked to the improvement of corporate fundamentals.

According to PANews report on December 23, spot silver surpassed the $70 per ounce mark, recording a 1.7% increase compared to the previous trading day and reaching an all-time high. Market trends so far highlight that spot silver has broken through the important level of $70 for the first time. This new high indicates a rising demand and investment interest in silver in the commodity market, and the $70 level has become a new psychological threshold in the market.

PayPal is accelerating its move into financial services by applying for an industrial bank license in Utah. This marks a strategic shift from a payments platform to a comprehensive financial institution, offering services like deposits and loans, while also integrating cryptocurrency features.

Jennifer Garner stars in Netflix's romantic comedy "One Attempt Remaining," directed by Kay Cannon. The film explores a divorced couple's journey to recover forgotten cryptocurrency amidst a rekindled romance, marking a shift in how Hollywood portrays crypto.

As 2025 comes to an end, the true state of the once thriving metaverse industry is becoming clearer. From metaverse games to industrial applications, the development across various sectors is clearly polarizing. Overall, it is not a decline; rather, some areas are experiencing remarkable progress, while others remain sluggish — this is the complex reality of the metaverse industry in 2025.
After the boom of 2021 and the cooling in 2022, how has the metaverse ecosystem evolved by 2025? It is not merely a general decline, but an uneven stage of development where hot sectors and cold sectors are distinctly differentiated.

The essay discusses the transformative impact of cryptocurrency and blockchain technology on traditional financial systems. It highlights the emergence of decentralized transactions, the optimization of global remittance systems, and innovations like smart contracts and decentralized applications. Additionally, it explores the implications of NFTs and Central Bank Digital Currencies (CBDCs) in redefining asset ownership and improving payment infrastructures, while emphasizing the importance of understanding these technologies for future participation in a rapidly evolving landscape.