# Сопутствующие статьи по теме DeFi

Новостной центр HTX предлагает последние статьи и углубленный анализ по "DeFi", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Is a16z's Mainstream Prediction for Decentralized Payments Overly Optimistic?

In response to a16z's report predicting decentralized payments as a major trend by 2026, this article presents five key judgments on the future of crypto payments. First, stablecoin gateways will undergo revolutionary changes, with major payment networks like Stripe's Tempo enabling deeper integration with traditional finance, reducing transaction costs and improving user experience. Second, the fusion of RWA assets and stablecoins will catalyze on-chain lending, as traditional assets become tokenized and traded using stablecoins like USDC and USDT, enhancing liquidity and compliance. Third, the "internet as a bank" model will emerge, combining AI agents, the x402 protocol, and stablecoins to enable seamless online payments, tokenization of digital products, and more efficient virtual economies. Fourth, investment barriers will lower significantly, allowing fractional ownership of assets like SpaceX IPO shares through tokenization, democratizing access to financial markets. Fifth, intense competition among stablecoins (e.g., USDH, USDC) will continue, resembling past "wars" in tech sectors, potentially benefiting users through subsidies and incentives. The article concludes that 2026 could be a turning point for crypto adoption, driven by these developments in payments and decentralized finance.

比推12/12 13:42

Is a16z's Mainstream Prediction for Decentralized Payments Overly Optimistic?

比推12/12 13:42

Why Crypto Cards Are Doomed to Fail?

Crypto cards are a temporary solution designed to bridge traditional payment systems with the cryptocurrency world, but they are ultimately doomed to fail. They rely on centralized banking infrastructure, depend on compliance with traditional financial regulations, and lack the privacy and decentralization that are core to crypto values. These cards function as an abstraction layer, adding extra fees and complexity while still being controlled by entities like Visa or Mastercard. They do not replace traditional payment systems but instead reinforce them. Most crypto cards operate like liquidity bridges, converting crypto to fiat for spending, which incurs taxable events and additional costs. They also fail to provide true financial inclusivity, as users from restricted countries cannot access them, contradicting crypto’s ethos of equality. While companies continue developing crypto cards to lock users into their ecosystems (e.g., MetaMask using Linea), these efforts are largely superficial, relying on third-party services like Rain for infrastructure. The only model that aligns with crypto principles is EtherFi, which allows users to spend against crypto collateral without selling assets, avoiding taxable events and embodying a true DeFi-TradFi hybrid. Ultimately, crypto cards are a flawed transitional product, not a long-term innovation.

marsbit12/12 11:38

Why Crypto Cards Are Doomed to Fail?

marsbit12/12 11:38

From Airdrop Myth to King of Derivatives: A Look Back at Hyperliquid's 2025 Conquest

Reviewing crypto's growth in 2025, Hyperliquid stands out. It began the year with an epic airdrop and strong price performance, capturing attention. By year's end, it transformed into a top-four revenue-generating platform in crypto, earning over $650M and at one point capturing 70% of all perp trading volume. Its success was no accident. In Q1, it solidified its reputation by being first to list new assets like the TRUMP perp and launched HyperEVM, a smart contract layer. Q2 saw explosive growth: HYPE token surged 4x from April lows, and HyperEVM's TVL grew from $350M to $1.8B. The platform gained mainstream media coverage. In Q3, major wallets like Phantom and MetaMask integrated via Hyperliquid's builder codes, routing $158B in volume and earning partners nearly $50M. A high-profile stablecoin bid war was won by Native Markets, aligning with Hyperliquid's bootstrapped ethos. However, new competitors like Aster and Lighter emerged with aggressive airdrops. Q4 brought permissionless listings via HIP-3, enabling new markets like stock perps and yield-bearing collateral. Yet, HYPE fell nearly 50% from its September peak due to market conditions, a rare ADL event during a crash, and the start of team token unlocks. As perps go mainstream in 2026, Hyperliquid's true test begins. Its success came from building a superior product and ecosystem without shortcuts. Maintaining leadership will require doing it all over again in a crowded field.

marsbit12/12 11:35

From Airdrop Myth to King of Derivatives: A Look Back at Hyperliquid's 2025 Conquest

marsbit12/12 11:35

When Faith Becomes a Cage: The Sunk Cost Trap in the Crypto Era

In the crypto era, the "sunk cost trap" describes how past investments—whether in skills, relationships, or digital assets—can become psychological prisons that prevent people from moving on, even when they know their current path is no longer beneficial. The author reflects on personal experiences in poker and crypto, noting how early beliefs in Bitcoin and smart contracts have now materialized (e.g., Bitcoin ETFs, institutional adoption), yet many remain stuck due to emotional or financial commitments. The article categorizes crypto believers into four camps: Bitcoin-only (Green), crypto-but-not-Bitcoin (Red), both (Brown), and neither (White), each split into (a) those who still see upside and (b) those who don’t. Only true believers (e.g., Red (a)) should fully commit time and resources; others should diversify or plan exits. As crypto becomes mainstream (e.g., Robinhood using Arbitrum), opportunities may lie elsewhere (e.g., equities, AI). The key is to avoid mistaking sunk costs for future potential and to cultivate skills beyond crypto for a softer landing. Freedom requires courage to walk away from the "cave" of past investments.

深潮12/12 10:01

When Faith Becomes a Cage: The Sunk Cost Trap in the Crypto Era

深潮12/12 10:01

When the Fed is Politically Captured, Is Bitcoin's Historic Opportunity Here?

When the Federal Reserve announced a 25 basis point interest rate cut and a plan to purchase $40 billion in Treasury bills over 30 days on December 10, 2025, the reaction was unexpectedly pessimistic. Instead of falling, long-term bond yields rose—a sign that markets are pricing in a deeper structural risk: the potential loss of Fed independence. Political pressure is at the heart of this shift. Before the decision, a key Trump economic advisor accurately “predicted” the cut, raising suspicions that the move was politically influenced rather than data-driven. This erosion of trust threatens the foundation of U.S. monetary credibility and, by extension, global confidence in the dollar. In this environment, Bitcoin and crypto assets gain relevance. Bitcoin’s fixed supply of 21 million positions it as a hedge against potential uncontrolled money printing if the Fed succumbs to political pressure. Its decentralized nature also makes it immune to government interference—a key advantage as institutional trust declines. Ethereum and DeFi present an alternative financial infrastructure where transactions are governed by code, not central authority. While stablecoins like USDT and USDC remain dollar-pegged and exposed to dollar risk, decentralized alternatives like DAI could benefit from declining faith in traditional systems. Crypto remains highly risky and volatile, but as traditional systems face credibility crises, its role may shift from speculative asset to a legitimate hedge against sovereign risk.

深潮12/12 09:17

When the Fed is Politically Captured, Is Bitcoin's Historic Opportunity Here?

深潮12/12 09:17

Decade-Long Tug-of-War Concludes: "Crypto Market Structure Bill" Races Toward Senate

After a decade of regulatory uncertainty, the U.S. is advancing the "Cryptocurrency Market Structure Act" (CLARITY Act), which is expected to move into the Senate for revision and voting next week. The bill, which passed the House with overwhelming support in July, aims to end the long-standing debate over whether digital assets are securities or commodities by introducing a clear classification framework. The core of the legislation distinguishes between "digital commodities" and "digital securities." Most tokens issued on decentralized blockchains will be classified as digital commodities under CFTC jurisdiction, while only those meeting the Howey test will remain regulated as securities by the SEC. The bill also establishes a "mature blockchain" exemption, allowing highly decentralized networks like Bitcoin and Ethereum to avoid SEC registration. Additionally, digital commodity trading platforms must register with the CFTC, with a 360-day interim registration period to ensure a smooth transition. The act mandates coordination between the CFTC and SEC through a joint advisory committee to prevent regulatory gaps. It also protects decentralized finance (DeFi) participants by exempting non-custodial, non-profit roles from broker-dealer regulations. This legislative push aligns with broader regulatory shifts under the Trump administration, which has appointed crypto-friendly leaders to key agencies like the SEC, CFTC, and FDIC. These changes, along with recent CFTC initiatives to allow spot crypto trading on regulated platforms, signal a structural shift toward embracing digital assets. The bill is poised to complement earlier stablecoin legislation, positioning the U.S. as a potential global leader in crypto regulation and attracting institutional investment, though challenges in DeFi oversight and international coordination remain.

marsbit12/12 09:14

Decade-Long Tug-of-War Concludes: "Crypto Market Structure Bill" Races Toward Senate

marsbit12/12 09:14

x402 V2 Launch: When AI Agents Get "Credit Cards," Which Projects Will Be Revalued?

x402 V2 Launch: AI Agents Gain "Credit Cards" – Which Projects Will Be Revalued? Coinbase’s x402 protocol has released its V2 upgrade, shifting from a single-chain payment tool for AI agents to a multi-chain, credit-enabled infrastructure. While V1 allowed AI to make on-chain payments via API calls, it was inefficient and costly due to per-transaction gas fees. V2 introduces three major enhancements: 1. **Delayed Payments**: AI agents can now use services first and pay later, enabling session-based or subscription billing. This effectively gives AI "credit," reducing friction and enabling high-frequency transactions. 2. **Multi-Chain Support**: The protocol is no longer limited to Base chain, allowing AI to transact across Ethereum, Solana, and other networks. 3. **Hybrid Payment Rails**: Supports both crypto (e.g., USDC) and fiat payments, bridging Web3 and traditional finance. This upgrade positions x402 as a foundational layer for the "machine economy," potentially revaluing projects in: - **AI Credit & Identity**: Protocols like Spectral (credit scoring), Bond Credit (agent lending), and CARV (decentralized identity) may see demand as AI requires trust and verification for deferred payments. - **Compute & Verification**: DePIN projects (e.g., Akash Network for decentralized compute) and ZKML protocols (e.g., Giza for verifiable AI inference) could benefit from seamless, high-frequency payment channels. - **Agent Execution Platforms**: Projects like Virtuals Protocol (AI agent issuance) and Brahma (on-chain execution) may leverage x402 for cross-chain agent operations and automated DeFi strategies. The update signals a shift from investing in "smarter" AI models to financing AI economies—where credit, identity, and execution layers become critical. Early-stage infrastructure projects in these areas could capture value as AI agents evolve into independent economic entities.

深潮12/12 06:53

x402 V2 Launch: When AI Agents Get "Credit Cards," Which Projects Will Be Revalued?

深潮12/12 06:53

Grasp Four Keywords to Enter the Main Theme of Crypto in 2025 Early

The article "4 Major Keywords: The Four Seasons of Crypto in 2025" reviews the key developments in the cryptocurrency industry throughout 2025, a year marked by significant regulatory shifts, market volatility, and growing mainstream adoption. The year began with the "Trump Effect," as the new U.S. President took office, driving Bitcoin toward $100,000 and sparking a memecoin frenzy with TRUMP token, which reached an $80 billion market cap. Regulatory progress included the appointment of a crypto-friendly SEC chair and the proposal of a national Bitcoin reserve using seized assets. Summer saw market turbulence due to Trump's global tariff policies, causing sharp declines in both crypto and stock markets. Ethereum rebounded strongly, fueled by the rise of DAT treasury companies—public firms holding ETH and other cryptocurrencies—though many later faced significant losses. Stablecoins and PayFi gained prominence, especially after Circle’s successful public listing. Autumn brought breakthroughs in stock tokenization, with platforms like xStocks enabling on-chain trading of tokenized equities. Traditional players like Nasdaq also entered the space. Meanwhile, on-chain Perp DEXs like Aster and stablecoin projects like Plasma and WLFI attracted attention, though their tokens later declined sharply. Winter was defined by the "10·11 Great Crash," triggered by Trump’s tariff threats, resulting in over $300–400 billion in liquidations. Despite the crash, prediction markets like Polymarket and Kalshi thrived, both reaching valuations exceeding $10 billion. The year, crypto continued its path toward mainstream integration, heavily influenced by U.S. policy and traditional finance. The industry’s evolution emphasized both opportunities and risks, requiring adaptability from participants navigating this dynamic landscape.

比推12/12 06:39

Grasp Four Keywords to Enter the Main Theme of Crypto in 2025 Early

比推12/12 06:39

Global Shift Towards Easing, ETH May Have Taken the 'Best Offensive Position'

Global monetary policy is shifting towards easing, creating a favorable environment for risk assets. Despite a significant market decline in October, the long-term trend of crypto integration with traditional finance continues. A key narrative is emerging: U.S. political and economic elites are building a capital network connecting U.S. Treasury bonds, stablecoins, and Ethereum-based RWA (Real World Assets) protocols. This chain funnels dollar credit into assets ultimately settled on Ethereum and its Layer 2s. Ethereum's recent Fusaka upgrade is a milestone, addressing the issue of L1 value capture diminished by L2 growth. By introducing a dynamic floor price for data blobs (EIP-7918), it ensures L2 activity consistently contributes to ETH burning. Post-upgrade, blob fees have become the primary source of ETH burn, potentially returning ETH to a deflationary state. Technically, ETH appears strong. Leverage in the market is at historically low levels (~4%), and the Long BTC/Short ETH trade has been failing since November. ETH exchange reserves are at a multi-year low, suggesting a potential short squeeze. With anticipated friendly monetary policy from both the U.S. and China, ETH is positioned in a favorable accumulation zone.

比推12/12 06:09

Global Shift Towards Easing, ETH May Have Taken the 'Best Offensive Position'

比推12/12 06:09

a16z Predicts Decentralized Payments to Become Mainstream, and My Judgment Is as Follows

a16z's report "17 Big Ideas for Crypto in 2026" predicts decentralized payments will become mainstream, highlighting that stablecoin transaction volume in 2024 reached $46 trillion—20 times that of and nearing three times Visa's. Odaily Planet Daily argues that 2026 will be a turning point for crypto and crypto payments, offering five key judgments: 1. Stablecoin gateways will undergo revolutionary changes, with payment giants launching networks (like Stripe-backed Tempo) for smoother, cheaper fiat-to-crypto conversions, enabling true peer-to-peer electronic payments. 2. RWA assets will integrate with stablecoins, driving on-chain lending. Tokenized real-world assets, using stablecoins like USDC or USDT for pricing, will enhance liquidity and enable new financial products like perpetual contracts. 3. The "internet as a bank" model will emerge, combining AI Agents, the x402 protocol, and stablecoins. This will merge online and on-chain payments, allow tokenization of digital products, and stimulate the virtual economy through efficient, direct creator payments. 4. The era of universal finance will begin, lowering investment barriers. Tokenized stocks and fractional ownership will let people invest small amounts in assets like SpaceX IPO shares, supported by AI advisors. 5. The stablecoin market will see intense competition ("hundred-army war"), with more players like OSL Group and Jupiter launching their own stablecoins, potentially bringing user benefits through subsidies and incentives.

Odaily星球日报12/12 04:55

a16z Predicts Decentralized Payments to Become Mainstream, and My Judgment Is as Follows

Odaily星球日报12/12 04:55

活动图片

Популярные категорииright-arrow

Популярные тегиright-arrow

Bitcoin