Weekly Editor's Picks (1115-1121)

"Weekly Editor's Picks" is a "functional" column of Odaily Planet Daily. Based on the extensive coverage of real-time information each week, the Planet Daily also publishes many high-quality in-depth analysis articles, but they may be hidden among the information flow and trending news, passing you by.

Therefore, our editorial team will select some quality articles worth spending time reading and saving from the content published in the past 7 days every Saturday, bringing you new insights from the perspectives of data analysis, industry judgment, and opinion output, as you navigate the crypto world.

Now, let's read together:

Investment and Entrepreneurship

Why are there always major benefits in this cycle, yet your coins keep falling?

Revenue ≠ Profit, Adoption ≠ Increase.

The market does not care about your story; it cares about the gap between price and fundamentals. Cryptocurrencies are no longer the hottest trading objects; AI is.

Businesses follow commercial logic, not ideology. We are still too early, judging the effectiveness of technology based on token prices like cavemen.

In the future, those who can aggregate users will capture most of the value.

Why hasn't the Bitcoin hedging narrative materialized? Five macro indicators reveal the truth

The system is entering a more fragile and error-prone cycle phase. 2026 may become an important turning point for Bitcoin.

DappRadar, another tear of the era

DappRadar's seven-year trajectory encapsulates the common commercialization challenges faced by such projects: high value, low payment, rigid costs, and rapid narrative iteration. Its shutdown leaves a stark reminder for future entrants: if the business model cannot close the loop from day one, even the most authoritative data cannot prevent "bleeding to death."

Chen Yizhou, who caused the collapse of Renren, has now launched the first crypto bank in the U.S.

The growth story of SoFi.

Airdrop Opportunities and Interaction Guide

The Airdrop Hunter's Toolkit: Six Key Indicators to Filter Real High-Potential Projects

Protocol fundamentals and narratives, token distribution and economic models, participation conditions and anti-scam mechanisms, costs, inputs, and risk-return ratios, market environment and timing, liquidity and exit strategies.

Best practices for evaluating early airdrops include: doing your homework, formulating investment strategies (which should be continuously validated), quantifying scores and comparisons, risk control without gambling, monitoring on-chain indicators, planning entry and exit, and continuous learning and iteration.

Ethereum and Scalability

Ethereum Interop Roadmap: How to Unlock the "Last Mile" of Mass Adoption

Cross-chain focuses more on assets, primarily solving the "transportation" problem; while interoperability (Interop) covers multiple dimensions such as assets, states, and services, aiming to solve the "collaboration" problem.

Recently, the Ethereum Foundation (EF) announced a new round of UX roadmap, along with a series of projects related to withdrawal delays, messaging, and real-time proof, piecing together the interoperability puzzle.

Is building a Layer 2 public chain the ultimate strategy for Ethereum DAT to enhance mNAV?

Currently, Ethereum treasury companies have formed a clear leading pattern, with their asset scale and market influence increasing day by day. The top three in holdings are Bitmine, Sharplink, and The Ether Machine.

Compared to Ethereum ETFs, DAT shows greater strategic flexibility and proactivity in asset operations, such as participating in staking, lending, and building nodes to earn MEV profits. Building an Ethereum Layer 2 network represents a fundamental strategic leap for treasury companies. The associated risks and challenges include: using blockchain payments in DAT's upstream and downstream, competition among peers, and changes in mainnet strategy.

Multi-Ecosystem

Has SOL reached its limit? Multi-dimensional data reveals the true picture of Solana

Solana still firmly occupies the top position among general-purpose chains.

From the perspective of TVL growth rate, staking products are the absolute highlight of Solana applications in the third quarter.

Outstanding projects in Q3 include DEX aggregator Titan, DeFi AMM Tuna, stock tokenization platform xStocks, pump.fun, and MetaDAO.

Solana should be wary of the negative impact of popular narratives on brand perception.

Also recommended: 《Solana's Eight Years — Anatoly's Behind-the-Scenes Story》。

CeFi & DeFi

The main battlefield for RWA? What is the underlying business logic of stock tokenization?

Currently, there are not many assets that can be tokenized and have yield value; funds originally in DeFi are also beginning to seek valuable assets that can smoothly traverse cycles. Stocks are a perfect fit.

Broadly speaking, the tokenization of U.S. stocks has faced several long-standing and difficult-to-solve issues (such as poor liquidity). However, leaders like Ondo are actively addressing these challenges. The author believes that Ondo Finance has ample strength and reason to elevate U.S. stock tokenization to a new level.

Gate Research Institute | In-depth Study of the Oracle Track: Ecological Expansion, Economic Value Capture, and Financial Bridges

The industry is shifting from an early revenue structure reliant on call volume to an economic cycle system centered on node staking, security budgets, and service fees.

The long-term value of oracle tokens (like LINK) is determined by protocol revenue, the quality of TVS growth, and staking ratios. The valuation logic is also shifting from "narrative-driven" to focusing on fundamental indicators like MCap/TVS.

Current estimates suggest that LINK's long-term reasonable valuation range is $26–35; introducing a Smart Value Recovery (SVR) mechanism could amplify the overall valuation by about 1.2–1.5 times, with price potential reaching $40–45.

Oracles are driving the digitalization of real finance and giving rise to a new revenue concept centered on data — information interest rates.

In-depth Analysis: Status and Data Comparison of Four Major Perp DEXs

The advantages and pitfalls of Hyperliquid, Aster, Lighter, and EdgeX.

Three Types of Yield-Generating Stablecoins Analyzed: From RWA to Algorithmic Strategies, Who is Defining the Future?

Those relying on government bonds for interest, those generating yield through on-chain native mechanisms, and those seeking returns through active management. They share the same name but carry completely different risks. Understanding the structure is the first principle to grasp the future of stablecoins.

Prediction Markets

How Polymarket Uses "Mechanisms" to Forge "Probabilities"

Polymarket's core function is to compress and securitize humanity's collective judgment on future events into a tradable financial asset in real-time. The author further deduces and verifies that "price equals probability," leading to a more reasonable "price = probability - risk premium," and explains in detail how price formation on Polymarket is protected.

Polymarket Practical Guide: Finding and Following "Smart Money"

This article reviews smart money accounts on Polymarket for sports competitions, political elections, and the crypto market.

Also recommended: 《Odaily Selected: 8 Handy Prediction Market Trading Tools》。

Web3 & AI

Robotics & Crypto: How Can the Crypto Market Capture Value as Robots Begin to Replace Humans?

Representative projects in the robotics track include: Openmind (TGE pending), PrismaX (TGE pending), XMAQUINA (TGE pending), PEAQ ($PEAQ, $83M), Geodnet ($GEOD, $62M), Auki ($AUKI, $43M), CodecFlow ($CODEC, $10.9M), Neuron ($NRN, $10.6M), VADER ($VADER, $8.1M), etc.

Security

Is the Foundation of Cryptocurrency Shaken Again by Quantum Threats?

Weekly Hotspot Review

In the past week, non-farm payrolls gave "mixed signals," the entire market plummeted, and the Federal Reserve's interest rate cut in December is shrouded in uncertainty;

Additionally, regarding policies and the macro market, Japanese regulators plan to reclassify 105 cryptocurrencies, including BTC and ETH, as "financial products," with tax rates potentially dropping to 20%; The Financial Times: Data shortages will become a major obstacle for Federal Reserve decision-making, and the December meeting will face a dilemma of incomplete information;

In terms of opinions and statements, CryptoQuant CEO: The current decline is mainly due to the turnover of established whales, while new institutional inflows remain strong; Tom Lee: The current weakness in the crypto market is due to significant gaps in the balance sheets of one or two market makers; Tom Lee: This week may be close to the market bottom, Bitwise CIO calls it a “once-in-a-lifetime long-term buying opportunity”; Bitwise CEO: The four-year cycle may be broken, and 2025 could become a down year; Arthur Hayes states that Bitcoin's decline is due to the contraction of dollar liquidity, which may temporarily pull back to $80,000 to $85,000; the market continues to decline; Wintermute founder: The real problem in the industry is that exchanges concentrate brokerage, order placement, custody, and other powers in one entity; DeFiance CEO: Crypto perpetual contracts still have structural flaws and need to launch safer products; CZ: On-chain prediction markets and AI will drive more demand for oracles; Star: The OKX Wallet private key module and all related smart contracts have been fully open-sourced, which is a long-term commitment to promoting industry transparency and security; Vitalik criticizes FTX: it is a counterexample of turning Ethereum principles "180 degrees";

Regarding institutions, large companies, and leading projects, the Singapore Exchange will launch Bitcoin and Ethereum perpetual contracts; Coinbase is collaborating with Kalshi to develop a prediction market platform; The Solomon public offering results were manipulated, and Polymarket predicts a trust crisis in crypto;

In terms of security, Cloudflare experienced downtime, affecting many Web3 services… Well, it was another tumultuous week.

Attached is the portal for the "Weekly Editor's Picks" series.

See you next time~

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