PANews

By 2025, public blockchains may no longer be the sexy track of grand narratives, because what users truly care about is no longer throughput, the size of funding rounds, or the豪华 backing behind them, but whether there are real users experiencing genuine growth. Are there on-chain transactions with real value? Are there developers who can stay long-term, and applications that can grow beyond the circle? During this year, some public chains have transitioned from "being discussed" to "being used," some have chosen to slow down and refine their underlying capabilities, and others have validated their long-term paths through market fluctuations.
"2025 OKX Public Chain Friends" is not a review of a grand narrative, but an invitation for frontline participants to clarify what has truly been achieved this year, which judgments have been proven correct, and where further adjustments are needed—because these are the core issues that communities and users care about most. By 2025, OKX's collaborations with multiple public chains will no longer be limited to single instances.

Author: Frank, PANews
Recently, the popularity of prediction markets has continued to rise, especially with smart money's arbitrage strategies being regarded as the gold standard. Many have begun to imitate and experiment, as if a new wave of gold rush has started.
But behind the hype, how effective are these seemingly clever and reasonable strategies? How exactly are they executed? PANews conducted an in-depth analysis of 27,000 transactions by the top ten profit-making whales on Polymarket in December to uncover the true nature of their profits.
After analysis, PANews found that although many of these "smart money" operations employed hedging arbitrage strategies, this hedging differs significantly from the simple hedging described on social media. The actual strategies are more complex, involving not just straightforward "yes" or "no" combinations, but rather utilizing rules like "over/under" and "win/lose" in sports events to perform combined hedging.

Author: Frank, PANews
In the cyclical ups and downs of cryptocurrencies, the standard for measuring an exchange's scale is often not its expansion speed during smooth sailing, but how stable it remains in the face of headwinds. Bybit's performance in 2025 not only exemplifies this resilience but also unexpectedly staged a "countertrend comeback."
On December 22, Bybit's 24-hour spot trading volume exceeded $9 billion, surpassing Binance to top the market share in crypto spot trading volume. Observing its recent trading volume curve, one can see a explosive growth trend: starting from $2.2 billion on December 16, it took only a week to peak above $9 billion on December 22, with a weekly increase of over 4 times.
This performance is not a coincidence but a demonstration of the resilience dividend released by Bybit after undergoing extreme stress testing. For Bybit

Abu Dhabi Investment Authority has allocated approximately $520 million in Bitcoin assets, demonstrating its long-term investment strategy and commitment to asset diversification. This move is seen as Middle Eastern sovereign capital's participation in crypto assets, while also providing additional support and credibility to the market.

The 2025 cryptocurrency market experienced rapid shifts in narratives, with some short-lived narratives failing to develop into long-term applications. However, important trends that drive industry development also emerged, such as increased emphasis on privacy needs and the demonstration of real-world application scenarios, indicating that the foundation of market participation is continuously expanding.

According to Fox News, U.S. President Trump stated that the largest oil company in the United States will enter Venezuela, invest billions of dollars to repair severely damaged oil infrastructure, and help related assets generate revenue for the country again.

Author: @Web3Mario
Summary: Hello everyone, long time no see. Sorry for the delay in updates; I have been working on designing and developing an AI product for the past three months. Honestly, changing direction is not easy. Any innovation must be built on a clear understanding of the industry boundaries before making incremental improvements beyond those boundaries. Therefore, I needed to acquire a lot of foundational knowledge in AI. Now that the product is preliminarily completed, I have more time to discuss macroeconomic environments and Web3 observations with everyone. Today, I want to talk about an interesting topic: USDT negative premium and the ongoing strengthening of the RMB. How should we view this, and how can we respond? Overall, I believe everyone doesn't need to panic too much. When building your investment portfolio, it's still wise to maintain a certain proportion of stablecoin assets. However, you can also use on-chain exchange rate hedging to appropriately avoid some foreign exchange losses.
Why is the RMB entering an appreciation phase?

Author: trustin
Part One: Timeline Review — Establishing Order
January: MiCA Fully Enters into Force, European Market Completes "Quality Upgrade"
【Event】The EU's Markets in Crypto-Assets Regulation (MiCA) for electronic money tokens (EMT) and asset-referenced tokens (ART) officially comes into effect. The European Banking Authority (EBA) has delisted more than 15 unlicensed algorithmic stablecoins and offshore USD stablecoins.
【In-Depth Analysis】This is the world's first major economy to complete a "clean-up" of the stablecoin market. The historical mission of algorithmic stablecoins in compliant markets has essentially ended. The market logic has shifted from "efficiency first" to "solvency first." This has also forced global exchanges to upgrade their token listing review mechanisms—without real-time proof of reserves (PoR) and clear legal entities, these assets will lose

Author: Stacy Muur
Translation: Deep Tide TechFlow
If you participated in the 2025 Token Generation Event (TGE) trading, you might be familiar with this default script: a lively first week, followed by a slow decline, and finally having to accept the fact that the "issue price is the highest point."
Most newly launched tokens not only perform poorly but even crash outright because the market finally begins to treat tokenomics and liquidity as fundamentals rather than optional add-ons.
Nevertheless, a few tokens achieved significant growth by the end of 2025 compared to their TGE prices. The rise of these tokens is not a fleeting phenomenon nor due to buying at extreme lows for profit, but indicates genuine market demand.
Below are the tokens I summarized as performing strongly in 2025: $ASTER, $FOLK

Author: Cathy
At the end of 2025, a rare consensus emerged among the world's top financial institutions.
From a16z, Coinbase, Messari to Grayscale, Galaxy Digital, from BlackRock, Fidelity to J.P. Morgan, Standard Chartered Bank, more than 30 institutions in their respective 2026 outlook reports unanimously point to the same conclusion: the cryptocurrency industry is undergoing a historic transition from "adolescence's turbulence" to "adulthood's stability."
If the 2021-2022 cycle was driven by retail speculation, high leverage, and narrative bubbles, then most institutions believe that 2026 will be a year of substantial growth built on regulatory clarity, macro hedging demand, and the practical application of technology. This stage has a professional name—

Today's News Highlights:
1. Hong Kong JPEX case update: Internet celebrity "Master Zhu" faces three additional charges of money laundering, involving over HKD 18.8 million.
2. Trust Wallet browser extension has been re-listed on the Chrome Web Store.
3. Aave plans to explore sharing protocol external revenue with token holders, supporting the team to independently build products on the protocol.
4. Helium founder: Due to lukewarm market response, the team will cease repurchasing HNT tokens.
5. Data: In 2025, Solana's on-chain fee revenue surpasses $600 million, exceeding Ethereum and TRON.
6. Cryptocurrency phishing attack losses in 2025 plummeted by 83% to $83.85 million, with victims decreasing by 68%.
Macro
Hong Kong JPEX case update: Internet celebrity "Master Zhu" faces three additional charges of money laundering, involving over HKD 18.8 million.
According to Hong Kong media Ming Pao report

Future Asset Group plans to acquire Korea's fourth-largest cryptocurrency exchange Korbit, with an involved valuation of approximately $70 million to $100 million. This move reflects traditional financial institutions' active entry into the digital asset market, but Korbit faces shrinking market share and regulatory pressures, making the acquisition prospects uncertain. Whether Future Asset's acquisition can proceed will impact the landscape of Korea's crypto market.

Author: Aleks Gilbert, DL News
Translation: Wu Shuo
The past year, the United States experienced a crypto policy revolution.
In less than a year of his second term, President Donald Trump appointed industry-friendly regulators who ended investigations into crypto companies, made it easier for banks to hold crypto assets, and also facilitated asset management firms in launching crypto-related ETFs.
Under Trump's push, lawmakers passed landmark legislation on stablecoins and made significant progress in market structure legislation.
After these victories became facts, it’s natural to wonder whether 2026 will still be an important year for crypto policy.
The short answer is: yes.
So, without further ado, here are some key dates for US crypto policy in 2026.
January
January is destined to be a month of events

Huang Renxun pointed out in a 2007 interview that the key to future computing lies in mobile devices, rather than traditional computers or servers. He emphasized the importance of a broad strategic vision for the technology industry. Today, with the rise of AI and mobile platforms, NVIDIA has taken early steps, demonstrating his foresight.

Digital Renminbi 2.0 will start accruing interest from 2026, marking its transition from "Digital Cash 1.0" to "Digital Deposit Currency 2.0." This model incorporates Digital Renminbi into the banking system, addressing concerns of the traditional financial system while enhancing users' credit appeal. It has a profound impact on Hong Kong's financial ecosystem, promoting the development of cross-border payments and asset tokenization.

Canza Finance announces that its native USDT's cumulative trading volume has surpassed $131 million, demonstrating a huge demand for efficient cross-border financial services. Despite the high costs and delays associated with traditional payment systems, Canza has launched the world's first autonomous payment protocol CAPP, aimed at reducing costs, increasing settlement speed, and connecting multiple mobile payment systems to promote the development of Africa's digital economy.

Author: @intern\_cc, Crypto KOL
Translation: Felix, PANews
Crypto options are expected to become a flagship financial instrument by 2026, thanks to the convergence of three major trends: traditional DeFi yields are being squeezed by the "yield apocalypse," a new generation of simplified "entry-level products" abstracts options into a one-click trading interface, and Coinbase's $2.9 billion acquisition of Deribit has gained institutional recognition.
Although on-chain options currently account for only a small portion of crypto derivatives trading volume, perpetual contracts still dominate the market. This gap is similar to the relationship between TradFi options on Robinhood

Today's News Highlights:
1. International gold and silver both saw their largest annual gains since 1979, with gold increasing over 64% and silver over 147% cumulatively.
2. NEO co-founder Zhang Zhengwen announced the NEO governance structure and account status, and decided to return to mainnet management.
3. A certain Binance account was suspected of being hacked; the hacker attempted to pump up BROCCOLI714 to transfer funds, and trader Vida precisely intercepted and profited by millions of dollars.
4. Binance released its 2025 year-end letter: platform's annual trading volume reached $34 trillion.
5. Trump Media Group: will distribute digital tokens based on the Cronos blockchain to DJT stockholders.
6. Tether's BTC reserves reached 96,185 coins, with an unrealized profit of $3.524 billion, making it the fifth-largest BTC wallet.
Macro
Six major state-owned banks announced: starting tomorrow, interest will be accrued on digital renminbi real-name wallet balances, with the current savings account interest rate at 0.05%.