As the end of the year approaches, I would like to share some industry hotspots that I am optimistic about and following in 2026: 1. Market prediction: As the hottest track, this should be the focus of bets for various institutions and project parties. The essence of predicting the market is to build a game market that everyone can participate in, using blockchain technology to ensure openness and transparency. Its business scalability and imagination space are particularly huge, and it is also an important way to bring incremental users to this industry. 2. RWA: Asset tokenization should theoretically accelerate, but RWA's promotion over so many years can only be described as lukewarm. What are the reasons for this? I think it is caused by the extreme imbalance between the assets held by institutions and the existing user base in the cryptocurrency circle. This may require a process, but the tokenization of US stocks is an important breakthrough point. Global users can configure and trade the world's top quality stocks without KYC, which should be very attractive. Additionally, it should be mentioned that derivative markets based on RWA assets, such as lending and contracts, are also very imaginative. 3. X402: x402 may be adopted on a larger scale. Although x402 is a micro payment protocol driven by Coinbase, it is also attractive for web2 enterprises - they do not need to completely transform their existing architecture, they only need to add x402 middleware at the API endpoint to accept stablecoin micro payments. In addition, x402 will also play an important role in the AI and robotics economy. 4. L2: The core goal of Ethereum's series of upgrade actions is to gradually improve performance while enhancing the empowerment of ETH, otherwise the outcome may be similar to Polkadot and Atom. After the end of the Lighter airdrop, the activity level should sharply decrease. But I think this direction is correct, and we need to continue to observe the market's heat and the potential for other L2 innovations to be implemented. 5. DeFi: DeFi remains an important infrastructure for the entire industry, such as the large-scale applications of prediction markets, RWA, and L2 mentioned earlier, all of which will be combined with DeFi. 6. Privacy: With the continuous development of the industry, privacy has become increasingly important. People have begun to realize that the privacy we are referring to at this time is very different from the technological anonymity mentioned in previous cycles. Blockchain needs to effectively protect the privacy of individuals or institutions in order to be widely adopted. Zero knowledge proof technology has made rapid breakthroughs in recent years, accelerating the application and implementation of privacy technology. 7. Institutional inclination: In my opinion, institutions will still focus on BTC, ETH, and SOL as their main allocation directions in 2026, as these currencies basically cover several key areas of the industry - Bitcoin as the cornerstone of encryption, Ethereum as the underlying financial public chain, and Solana as the consumer level public chain. 8. Base coin issuance: It goes without saying that Base will issue coins in 2026, which I believe is the most noteworthy event of 2026. Base has already built an extremely rich ecosystem, and Coinbase is an absolute leader that Wall Street must rely on. The influence of Base coin issuance is significant. Finally, I would like to say that regardless of the track, it heavily relies on the liquidity of the US dollar. Without liquidity, everything would be in vain.