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The article analyzes the underlying reasons why the duopoly of Circle (USDC) and Tether (USDT), which still dominate about 85% of the stablecoin market, is beginning to break down. It points out that various structural changes are driving the stablecoin market toward "substitutability," challenging the core advantages of the existing giants.
Public blockchains centered on stablecoins have already achieved the necessary scale and stability. To become everyday currencies, they still need: a consumer-grade user experience, programmable compliance, and transactions with imperceptible fees.
Enterprises are increasing their investments in bitcoin and ethereum, with DAT strategies setting a new paradigm in the capital market.
Can Tether evolve from an offshore issuer to a multi-chain, compliant infrastructure provider without compromising its core advantages in liquidity and distribution?
Based on multiple historical and on-chain indicators, the article's author Michael Nadeau conducts a scenario analysis of the potential peak price of Ethereum in the current bull market, aiming to provide a quantitative reference for Tom Lee's "supercycle" hypothesis. By tracking the 200-week moving average, price-to-realized price ratio, MVRV Z-score, Ethereum-to-Bitcoin market cap ratio, and its ratio to the Nasdaq Index, the article presents a range of specific potential price targets, mainly concentrated in the $7,000 to $13,500 range.
It may not be as exaggerated as Tom Lee’s $60,000 prediction, but can we look forward to $8,000?
- 00:29The whale hoarding $133 million worth of ASTER has once again deposited 6.79 million ASTER to the exchange.According to Jinse Finance, on-chain analyst @ai_9684xtpa has monitored that a whale/institutional address, which has been accumulating $133 million worth of ASTER, has once again deposited 6.79 million ASTER (approximately $9.72 million) to an exchange after three days. Currently, this address holds only 59.29 million ASTER ($56.98 million), meaning the number of tokens transferred to the exchange has exceeded half of its total accumulated amount.
- 00:22Bhutan Migrates Its Sovereign Identity System from Polygon to EthereumChainCatcher news, according to Cointelegraph, Bhutan is migrating its self-sovereign identity system from Polygon to Ethereum. This move will enable its nearly 800,000 residents to verify their identities and access government services. Aya Miyaguchi, Chair of the Ethereum Foundation, revealed that the integration with Ethereum has been successfully completed, and it is expected that the migration of all residents' identity credentials will be finished by the first quarter of 2026. Miyaguchi attended the launch ceremony together with Ethereum co-founder Vitalik Buterin, Bhutan's Prime Minister Tshering Tobgay, and Crown Prince Jigme Namgyel Wangchuk. Previously, since August 2024, Bhutan has been operating its national identity system on Polygon, and before that, it used Hyperledger Indy. So far, Brazil and Vietnam are among the few countries that have partially integrated blockchain-based self-sovereign identity solutions.
- 00:22BlackRock CEO: Bitcoin is good, but should not take up too large a proportion in an investment portfolioBlockBeats News, October 14, BlackRock CEO Larry Fink stated in an interview with CBS that he has had to reassess bitcoin, acknowledging that "cryptocurrencies and gold serve the same function, both being alternative assets." Fink pointed out that bitcoin "is not a bad asset, but it should not occupy too large a proportion in an investment portfolio." In his letter to investors this year, Fink revealed that regarding investment demand for the BlackRock bitcoin ETF, "half comes from retail investors, and among them, 75% had never purchased iShares products before." (Decrypt)