This is an "informal" column from within the Odaily editorial team. The author shares immediate thoughts and different perspectives on industry news, data, hot events, and their nuances; explores investment ideas and opportunity hypotheses still under verification—they may not be direct wealth codes, but could simply be the questions themselves; shares observations gained from interactions with industry practitioners; and materials that have genuinely enhanced our understanding, whether from internal or external sources.
The content of this column is based on the real investment and observation experiences of the Odaily editorial team members. It does not accept any form of commercial advertising, nor does it constitute investment advice (after all, we are equally experienced in losing money). Its purpose is only to broaden perspectives and supplement information sources, not to create consensus. Welcome to join the Odaily community (Telegram discussion group, X official account) to exchange ideas, question, and banter together.
Asher(X:@Asher_ 0210 )
Introduction: Mainly plays interactions + wealth management, occasionally buys Meme (buys but doesn't like to sell), bad at contracts but likes to participate
Content: The crypto fear and greed index dropped to 11 yesterday. Still believe there will be a rebound, have started bottom-fishing SOL, ADA, ENA (also opened small contract positions). PIPPIN, BEAT simply seem too overbought, opened short positions this morning (will show the slip if profitable next issue).
For friends playing contracts, recommend trading on leading on-chain contract platforms to bet on token airdrops. Among them, Lighter is already on Coinbase's listing plan, now is the final stage to earn points; StandX has launched mainnet trading, can start farming too; Aster S4 season is ongoing.
Recent main operations are still interacting with early popular projects. Wrote a summary and reflection on airdrop farming in 2025 last week, recommended reading: 《2025 Airdrop Survival Rules: Past Golden Opportunities, Now Relying on These Two Trump Cards》.
Wenser(X:@wenser2010)
Introduction: Tea-serving junior, crypto soy sauce party member, media observer
Shares:
- Macro: US stocks hit new highs but crypto concept stocks hit new yearly lows. The contrast between hot and cold reveals more asymmetric opportunities. Crypto-native people should reversely harvest the stock market through stock tokenization trading platforms. Altcoins within the circle will continue to bleed, but Meme stocks like Gamestop might have a new wave of hype.
- Investment Reference: Woodie's Ark fund is still buying the dip, including Coinbase, Circle, Bitmine. Personally think there's still a rebound opportunity.
- Prediction Markets: Kalshi launched the Combo function. I think this is an important node for prediction markets to grow independently from the crypto-native field into a new emerging sector. This also means: (1) Prediction markets support automated combination operations; (2) Prediction markets and traditional financial market derivatives are more closely integrated. In 5 to 8 years (or even shorter), it will quickly grow into a trillion-scale sector. Most importantly, the development of prediction markets and platform updates are also events to bet on, so the two achieve a kind of "self-referential state". "Predicting prediction market platforms" might become a separate category. In a way, everything is predictable and everyone is a product manager converge here. Worth looking forward to. After all, betting implies prizes provided by the counterparty.
- New Product: "Life K-line", originally a test product by @0xsakura666 within the circle, later反响不错 so became systematized into a project (https://www.lifekline.cn/). Many feedback that the AI fortune-telling results are very close to their reality. I think this is also a major trend, especially after AI combines with stablecoins, x402 protocol, and EIP 8004. Stablecoin payments next year are very much worth looking forward to. Circle is still worth betting on, just like Coinbase back in the day (the two are already利益勾连).
Finally, recommend an article in the人物志 genre, about an asset manager and the Kondratiev wave: 《世间再无周金涛》by 张婕妤·远川
Nanzhi(X:@Assassin_Malvo)
Introduction: Diamond-handed Meme holder who suffered heavy blows, restarting
Content: 1. Fully researching Polymarket copy trading, part-time farming Opinion. 2. Prediction markets are increasing, already beyond tracking capacity. Talked with a certain big厂, aggregation markets and full-data platforms for prediction markets are on the way (Polymarket official ones are too poor). 3. Created a Human VS AI project, featuring Nanzhi's selected copy traders vs the latest set of AI models, launching soon.
Dingdang(X:@XiaMiPP)
Introduction: Pure "dumb money"
Content: I personally always tend to go long BTC, ETH or some quality altcoins. Recently, besides buying ZEC, I don't dare touch other altcoins easily. Bitcoin is also特别颠簸. The harder I try, the more I lose.
I always feel the current trend is a bit like the pullback phase at the top of the 2021 bull market. If it really repeats, then now might be the early bear market. But on the other hand, we are now entering a rate-cutting cycle, macro-wise there seems to be no basis for a deep bear. Also, top DAT companies are recently buying crypto assets aggressively, do they know some major positive news we don't know or haven't seen yet? Anyway, the market is too hard to play now. I'll just hold my chips tight, already behaving.
Ethan(X:@ethanzhang_web3 )
Introduction: Casual chat
Content: The only major event last week might be Fed Chair Powell announcing rate cuts. Wrote about the行情, the core institutional view is short-term market activity decline, possible sustained "阴跌" (sidelong decline) towards year-end, limited momentum for bull market restart. Whether long-term rate cuts continue still depends on weak wage growth or employment data. If data remains ugly, rate cuts might be more aggressive, but it's still better not to blindly bottom-fish now.
Recently talked to people in the industry,也算小道消息, affected by this year's policy tightening again, it's highly likely that many agents in Shenzhen previously providing operational maintenance for exchanges will全部转移到海外 (completely move overseas) before year-end. Take it as gossip, no way to verify.
Those playing meme can check out this episode (guests: Cupsey & Jack Duval), remember Cupsey seems to be on a show for the first time? There are quite a few stories about them making money inside.
golem(X:@web3_golem):
Introduction: golem's whimsical thoughts
Content: Last week's news about sei announcing pre-installed APP on overseas version Xiaomi phones also attracted much attention. But after saying it, sei got心虚, not only clarified but also contacted major Chinese media to delete related news. Immediately within Odaily we discussed that actually exchanges are the crypto applications that should most cooperate with phone manufacturers for pre-installation.
So, I asked a few exchange people. According to informed sources, actually Binance cooperated with overseas Xiaomi before sei, but due to Xiaomi's restrictions it only exists in some markets, itself not something worth marketing. And this pre-installation isn't automatically downloaded to the phone upon startup, but pops up a guide page, users have full choice, similar to a push installation. The effectiveness can be imagined.
But everyone's凑热闹 attitude towards pre-installation also shows that growth is still the biggest problem in Web3. If a project can break the circle, regardless of whether it's directly related to oneself, people get颅内高潮 (intracranial orgasm).
Moni(X:@mich73692)
Introduction: Doesn't trade altcoins, only watches Bitcoin
Content: The market trend of the past week made me more convinced of one thing: The cryptocurrency market is systematically saying goodbye to the "Santa Rally" narrative—a collective rise based on a time node.
Previously thought there would be a drop in November, then a rebound in December, especially a significant rise 1-2 weeks before Christmas, because many US-listed companies have incorporated Bitcoin into their treasuries. Behind listed companies is Wall Street, plus considering human nature, Wall Street would definitely want to搏一搏 (gamble) for year-end bonuses. But was quickly "slapped in the face" by reality. Even though Strategy announced buying over 20,000 BTC in the past two weeks, it still couldn't reverse the price decline. Predictions from multiple Wall Street banks on Bitcoin price were basically unreliable, felt like tricking retail into entering, e.g., JPMorgan predicting $170k, Bernstein predicting $200k, Standard Chartered predicting $100k.
Another thing to watch is the Friday Yen rate hike. The Yen, as a carry trade currency, if it hikes rates, will cause panic among investors who previously borrowed Yen at "zero interest". These investors typically borrow Yen to buy other interest-bearing currencies (like USD) and risk assets (like gold, Bitcoin). If rates rise, meaning repayment costs increase, investors will choose to sell risk assets, causing further Bitcoin price decline.
Among altcoins, SOL had many positive news recently (probably due to Breakpoint conference), e.g., Visa opening USDC settlement services to US banks via Solana, Invesco and Galaxy合作推出的质押型 Solana ETP (co-launched staking Solana ETP), Charles Schwab announcing support for purchasing Solana and Micro Solana futures products. But due to the overall poor performance of the market, SOL's price didn't see much breakthrough.
Suzz(X:@uu01194636)
Introduction: Adheres to long-termism, shorts shitcoins
Content: Too many projects in the crypto market, mixed quality. My core observation: A significant portion of new projects have the real purpose of dumping tokens, not long-term building. This is an inherent risk under irrational market exuberance, and also my opportunity. My idea is to short these overvalued, destined-to-retreat "dump projects", thus turning risk into profit. The difficulty of the shorting strategy lies in the extreme volatility of cryptocurrencies. Cannot get "squeezed" or "liquidated" because of a temporary rebound.
Current execution direction being explored: How to capture downside profit while, through strict risk control, prevent being liquidated by short-term market noise or extreme rebounds. Researching a set of entry and stop-loss mechanisms that don't rely on high leverage, can tolerate certain fluctuations, and have extremely high fault tolerance. Trying to establish an evaluation system to accurately identify those "born to dump" projects from tokenomics, unlock schedules, and fund flows.
Bcxiongdi(X:@bcxiongdi )
Introduction: Mainly plays on-chain PvP
Content: On-chain liquidity is dropping rapidly. PvP now means competing for meat with smarter and more diligent people. For most people, keeping hands still is the best at this time, otherwise很容易成为上一层级的退出流动性 (easily become the exit liquidity for the upper tier). The worse the market, the more不幸 (unfortunate) it is to折腾 (stir). Clearly know you are not diamond hands, then honestly wait for the market to improve before PvPing.
Long-term看好 (bullish on) the Meme sector. When liquidity is good, there can still be good money-making opportunities, unlike other sectors that can really die彻底 (completely). Can observe more the operations of高手地址 (expert addresses) that are still making money now. Copy first, then slowly form your own style. Best to watch more, act less.
Azuma(X:@azuma_eth)
Introduction: Noob, learning more
Content: Share some recent content I'm watching and find good:
1. "Long application layer, short infrastructure"
Major VCs are陆续发布 (successively releasing) year-end reports or next-year expectations. Delphi Digital and Moonrock Capital, etc., gave the logic of "Long application layer, short infrastructure" — "Layer1 valuation premium is disappearing, market demand for homogeneous infrastructure is weakening"; "Value will归于 (return to) applications that aggregate users on a large scale"; "The ultimate winners won't be those building the deepest infrastructure, but those controlling user identity, user traffic, capital flow, and daily interaction interfaces."
Delphi Digital full report: https://members.delphidigital.io/reports/the-year-ahead-for-apps-2026?utm_source=twitter&utm_medium=social&utm_campaign=Apps#robinhood-ee30
2. "Token vs Equity"
After Circle acquired the Axelar team but abandoned the token, the "Token vs Equity" issue heated up again. Regarding the positioning, value, and legal rights of tokens in financing structures, Dragonfly's这篇科普 (this popular science article) is probably the most detailed analysis on the current market. https://writing.dragonfly.xyz/post/read-the-fine-print-token-compensation
3. Pantera Capital launched a new podcast节目 (program) Stateful. The first episode discussed "Robinhood vs Coinbase", "Stablecoin payment chains", etc. Interested can check: https://www.youtube.com/watch?v=wIh8KZOHWBw&t=1s
4. Those interested in量化 (quantitative trading) can check out this podcast by quant trading大佬 (big shot) Annanay Kapila (formerly worked at Tower Research and Flow Traders). Content has some ads, but also quite a lot of干货 (dry goods): https://www.youtube.com/watch?v=aQlR_fxrThM&t=1s
5. Some good泛 AI (pan-AI) content.
Anthropic's two experts Barry Zhang, Mahesh Murag's podcast on abandoning the Agents route, changing to the Skills plan: https://www.youtube.com/watch?v=CEvIs9y1 Uog (Note: URL seems malformed in original, kept as is)
How far has AI's impact on programmers' work gone? Anthropic's internal survey: https://www.anthropic.com/research/how-ai-is-transforming-work-at-anthropic?utm_source=substack&utm_medium=email
