The winter solstice has just passed, wishing everyone good health and successful investments.

**Market Observation**

BTC has been fluctuating around the 88,000 mark for 3-4 days. The market trend that was interrupted last weekend has not resumed for half a month. This afternoon, whether it can regain the upward momentum of the weekend is the focus of many traders.

The current goal for ETH is whether it can break through 3000. A recent interesting phenomenon is that the operational strategies of a certain well-known analyst's paid group are contrary to those of the public group, which has left many followers feeling disappointed.

The performance of SOL is indeed commendable, especially with the on-chain ecosystem's heat consistently online.

**Policies and Regulations**

Bipartisan members of the U.S. House of Representatives have jointly proposed a new cryptocurrency tax framework that addresses the tax treatment of stablecoins and staking rewards, which has certain guiding significance for the long-term development of the industry.

The CEO of a compliant platform has officially launched the stock trading feature, and detailed rules will be announced soon.

**Market Dynamics**

The Ethereum Foundation has announced its development roadmap for 2026, with security becoming a core focus, planning to implement 128-bit security standards.

VanEck has submitted an application for a spot AVAX ETF to the U.S. Securities and Exchange Commission, but so far there hasn't been a noticeable impact on the coin price.

Research by data institutions has found that 84.7% of the tokens in the TGE of new coins in 2025 had a valuation at issuance that was lower than the FDV at that time, indicating a high probability of new coins breaking below their issue price.

The CEO of Tether revealed that the company is hiring a Chief Software Engineer to be responsible for the development of a cryptocurrency wallet.

**Characters and Events**

A well-known businessman’s compensation plan has been approved. According to statistics, his personal assets have surpassed 700 billion dollars and he is expected to become the first individual in human history with a net worth exceeding one trillion.

Regarding the "contradiction" issue of a certain analyst's opinion, he responded that different positions have different cyclical strategies, and there is no internal disagreement. However, the joke in the market is that while publicly calling for a rise, the paid groups are actually looking at a decline.

SBF has become a "prison lawyer" in jail, providing legal advice to multiple inmates.

A mining company announced that it will hold its annual shareholders' meeting on January 15 next year to elect 8 new directors and amend the company’s articles of association.

**On-chain data**

The average daily transfer trading volume of the two mainstream stablecoins, USDT and USDC, is approximately $192 billion, a figure that is nearly twice the total trading volume of the top five cryptocurrencies, highlighting the importance of stablecoins in real-world applications.

A certain project token contract transferred 250 million tokens 4 hours ago, which directly increased the probability of the project's TGE launch in 2025.