On one end, the prices of precious metals like gold and silver continue to reach historical highs, showcasing an "epic" market trend; on the other end, the cryptocurrency market appears deserted, with retail investor interest waning. The global Google search volume for the term "cryptocurrency" dropped to 26 (on a scale of 0-100) by the end of the year, nearing its low for the year. This is not a coincidence of market fluctuations; behind it lies a profound shift in macroeconomic logic, changes in market structure, and a transformation in investors' risk preferences.

In this live broadcast, we will start from mainstream cryptocurrencies to emerging Meme projects, combining market behavior to deduce the possible evolution paths of the current market situation, helping friends who are paying attention to the market find a clearer investment logic.

BBX Weekly Report: The tiered structure of the listed company's crypto treasury has taken shape: Bitcoin remains the core reserve, Ethereum takes on functional expansion, and public chains like Solana serve as tactical ecological supplements.

As gold prices approach $4,550 per ounce and silver surges over 10% in a single day to set a record, the financial markets in the last week of 2025 are set to unfold amidst the intertwining of historical highs and holiday quietness. The New Year's holiday will lead to early market closures or all-day market closures in several markets, and the trading liquidity in global financial markets is expected to be significantly lower than normal levels. In this low liquidity environment, the few events that will still be released—especially the minutes from the Federal Reserve's December monetary policy meeting—may have an amplified impact on the market.

Recently, Lu Lei, the deputy governor of the People's Bank of China, clearly stated in a public article that the future form of the digital renminbi will be institutionally defined as a currency form "with the liability attributes of commercial banks," constructing an issuance and circulation framework based on accounts. Unlike previous functional descriptions that focused more on "legal tender" and "non-interest-bearing," this time it is directly anchored to the balance sheets of commercial banks, which means that the digital renminbi held by the public is closer in accounting and legal relations to existing deposit currency.

Generation Z has a complex attitude towards cryptocurrency: they are open to receiving gifts during holidays, but they prefer to invest in stable assets. Amid market volatility, the divided mindset of young people is highlighted—they are both attentive to changes in the era and concerned about risks and uncertainties.

Google acquires shares in a Bitcoin mining company, Sberbank issues its first crypto asset-backed loan, Uniswap cancels application and API interface fees, Bitcoin ETF funds continue to flow out, and Draper claims Bitcoin will disrupt the global salary industry.

Hegota will follow “Glamsterdam,” Ethereum’s next major upgrade, which is currently expected to roll out in the first half of 2026.

Lighter balances safety, performance, and compliance transparency, combined with zero fees, top VC endorsements, and unreleased token catalysts, possessing the potential to become the leader in the next round of on-chain derivatives.

Altcoins posted broader gains in quiet Sunday trading as bitcoin held a tight range near $88K and analysts weighed crypto against the surge in precious metals.

Metrics Ventures December Market Observation Guide 1/ As we approach the end of 2025, I would like to wish all MVC friends a happy holiday season! Looking back, 2025 has been a cold year for crypto investments, with the annual return rate of crypto assets ranking at the bottom in the dollar market, mainly due to the collapse in Q4. As the year comes to a close, I hope everyone can take advantage of the sluggish market to rest and prepare to regroup in the coming year. 2/ The market over the past month has not presented anything particularly worth analyzing; it has been in a lifeless and chaotic state, with trading volume on CEX and the New York Stock Exchange...

Author | Messari Translated by | Odaily Planet Daily (@OdailyChina) Translator | Dingdang (@XiaMiPP) Editor's Note: As Bitcoin repeatedly "paints the door," with prices continuing to fluctuate between $80,000 and $90,000, market attention may still largely focus on Bitcoin itself. However, the representative asset of the privacy track, ZEC, has once again emerged with an independent trend, breaking through $500, currently reported at $518. From the recent low point, the increase has approached 40%. More strikingly...

Macro analyst Luke Gromen has sold most of his Bitcoin positions, as Bitcoin is seen as a fragile "equity layer" in an AI-driven deflationary environment. He remains optimistic in the long term but has adjusted the timeline and is now more bullish on silver, emphasizing that the world is shifting from "financial priority" to a "return to real politics."