Nearly 60% Used for Practical Work, Not Speculation.

This will be a challenging year, and it will also be a great year.

Jupiter's $70 Million Buyback Fails to Halt Token Price Decline, Founder Asks Whether to Pause.

Signals Remain Unclear, Focus on Fed Chair Appointment.

Trump has stated he will announce his pick for Fed Chair in January, but the specific timing is uncertain.

Reading this will put you ahead of 99% of people.

The Dark Side of the Beautiful "Yes+No=1" Formula: Market Making Difficulty Skyrockets, Platform Liquidity Harder to Build.

Infinex token sale has officially launched and will run until January 6th.

What lessons have we learned from the 12 narratives over 12 months?

Integrating third-party Perps is mostly a low-ROI deal.

"We are confident that next year, based on these 3 main themes and 7 key judgments, we will continue to outperform the market."

If losses from phishing and mis-signed transactions due to accounts themselves still amount to hundreds of millions of dollars by 2026, it will be a 'failure' for all Web3 builders.

If you're planning to enter the industry or switch jobs, this is essential information on key positions you absolutely cannot miss.

Messari's 2026 cryptocurrency thesis explores Ethereum's value capture crisis, the rise of yield-bearing stablecoins, and why skepticism is still necessary despite the strong historical record of institutional research.

At the end of the year, riding on the momentum of HashKey's listing, the Hong Kong Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) jointly announced that, in addition to the original regulatory framework, they will proceed as planned to license and regulate two types of services—"virtual asset trading" and "virtual asset custody"—under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO).

Messari's 2026 Crypto Thesis reveals a shift from speculation to system-level integration, focusing on L1 valuation risks, AI agents, DePIN revenue, and equity perps.