1. The Last-Mile Problem Vitalik Finally Fixed On stage in Buenos Aires, Vitalik Buterin opened with a confession: Ethereum has world-class cryptography, a battle-tested L1, and more zk papers than most countries have roads—yet using it still feels like doing your taxes in a command-line terminal. Kohaku—Japanese for “amber,” the stuff that traps and preserves—is the Foundation’s answer. It is not another mixer, not another L2, but a wallet-level privacy toolkit: a Lego box of modular SDKs an...

Early token holders often control a significant portion of a cryptocurrency's supply, making their buying and selling decisions critical to market trends. Understanding their behavioral patterns can provide traders with valuable insights into potential price reversals or market tops. This featured content, translated by Running Finance’s Web3.0 Research Lab, is adapted from Antonio Manrique de Lara Martín’s Tracking Early Token Holder Behavior. By analyzing four key metrics—Early Holder Balan...

Privacy coins have recently experienced a collective surge, with ZEC's market cap exceeding $7 billion and DASH's contract volume hitting record highs, drawing significant market attention. This phenomenon is driven by multiple factors: * Regulatory Catalysis: The US Department of Justice's seizure of $15 billion in Bitcoin assets from the founder of Cambodia's Prince Group raised concerns about cryptocurrency anonymity, boosting demand for privacy coins. * Celebrity and Institutional Endorse...

This report outlines the current state of stablecoins on Solana, quantifying adoption levels, highlighting product diversity, and exploring real-world use cases.Solana Stablecoin Adoption TrendsThis section presents key data on stablecoin adoption and usage, emphasizing transaction volume, user engagement, and network growth.Total Stablecoin Supply on SolanaSolana’s stablecoin supply surged in Q1 2025, more than doubling from $5.2B in January to $11.7B in February—a 2.25x increase. This spike...

The AI agent market has seen declining hype following a sharp drop in token prices, but technological development continues to advance steadily. The DeFAI (Decentralized Finance AI) sector is regaining attention through the launch of practical products and specialized on-chain functionalities, with representative projects like Wayfinder and HeyAnon using dedicated AI agents to execute automated investment strategies and on-chain tasks. Market Restructuring: Early generic agent projects are gr...

Crypto companies face a dilemma in hiring: should they prioritize talent with crypto-native experience or those with strong learning abilities from traditional tech backgrounds? According to a16z Crypto, both have unique advantages. Crypto-native professionals can immediately dive into high-risk, time-sensitive projects, especially in areas like smart contract development where precision is critical. Traditional tech talent brings experience in scalable operations, complex system management, ...

If the hype-driven narratives around Perp DEXs make you cautious, here are three high-velocity value tracks worth watching closely:Prediction Market Derivatives Polymarket is nearing a $10 billion valuation, while Kalshi secured $185 million in funding. Monthly trading volume across prediction markets now exceeds $1 billion, signaling a transition beyond niche status. Current markets primarily operate on binary options (Yes/No), but the derivatives layer can integrate with DeFi to develop sop...

Laos, facing a power surplus and heavy debt from massive hydropower dam construction, is attempting to convert its excess electricity into economic gains by developing energy-intensive cryptocurrency mining. This move has drawn international attention and sparked domestic controversy. * Power Surplus & Debt Problem: Laos aimed to become the "Battery of Southeast Asia" by building numerous hydropower dams. However, power supply now far exceeds demand, and the dam projects have brought a heavy ...

The Ethereum community is actively building an on-chain AI agent economy, with the ERC-8004 proposal and Virtuals' ACP protocol serving as two key driving forces. ERC-8004 As a foundational protocol standard, ERC-8004 aims to establish universal interaction rules for AI agents. Through three core on-chain registries—Identity, Reputation, and Validation—it seeks to create a trustless infrastructure for AI agent collaboration. This would position Ethereum as a neutral and trustworthy settlement...

Global Regulatory Acceleration: 2025 as a Turning Point for Stablecoin Development Global regulatory frameworks are rapidly taking shape and continuing to evolve, marking 2025 as a watershed year for stablecoin development. A market valued at over $250 billion is transitioning from unchecked growth to compliance-driven transformation. Core Definition and Classification of Stablecoins Stablecoins are a type of cryptocurrency designed to maintain a stable value by pegging to fiat currencies, co...

1. The Last-Mile Problem Vitalik Finally Fixed On stage in Buenos Aires, Vitalik Buterin opened with a confession: Ethereum has world-class cryptography, a battle-tested L1, and more zk papers than most countries have roads—yet using it still feels like doing your taxes in a command-line terminal. Kohaku—Japanese for “amber,” the stuff that traps and preserves—is the Foundation’s answer. It is not another mixer, not another L2, but a wallet-level privacy toolkit: a Lego box of modular SDKs an...

Privacy coins have recently experienced a collective surge, with ZEC's market cap exceeding $7 billion and DASH's contract volume hitting record highs, drawing significant market attention. This phenomenon is driven by multiple factors: * Regulatory Catalysis: The US Department of Justice's seizure of $15 billion in Bitcoin assets from the founder of Cambodia's Prince Group raised concerns about cryptocurrency anonymity, boosting demand for privacy coins. * Celebrity and Institutional Endorse...

The Ethereum community is actively building an on-chain AI agent economy, with the ERC-8004 proposal and Virtuals' ACP protocol serving as two key driving forces. ERC-8004 As a foundational protocol standard, ERC-8004 aims to establish universal interaction rules for AI agents. Through three core on-chain registries—Identity, Reputation, and Validation—it seeks to create a trustless infrastructure for AI agent collaboration. This would position Ethereum as a neutral and trustworthy settlement...

Laos, facing a power surplus and heavy debt from massive hydropower dam construction, is attempting to convert its excess electricity into economic gains by developing energy-intensive cryptocurrency mining. This move has drawn international attention and sparked domestic controversy. * Power Surplus & Debt Problem: Laos aimed to become the "Battery of Southeast Asia" by building numerous hydropower dams. However, power supply now far exceeds demand, and the dam projects have brought a heavy ...

If the hype-driven narratives around Perp DEXs make you cautious, here are three high-velocity value tracks worth watching closely:Prediction Market Derivatives Polymarket is nearing a $10 billion valuation, while Kalshi secured $185 million in funding. Monthly trading volume across prediction markets now exceeds $1 billion, signaling a transition beyond niche status. Current markets primarily operate on binary options (Yes/No), but the derivatives layer can integrate with DeFi to develop sop...

Crypto companies face a dilemma in hiring: should they prioritize talent with crypto-native experience or those with strong learning abilities from traditional tech backgrounds? According to a16z Crypto, both have unique advantages. Crypto-native professionals can immediately dive into high-risk, time-sensitive projects, especially in areas like smart contract development where precision is critical. Traditional tech talent brings experience in scalable operations, complex system management, ...

Global Regulatory Acceleration: 2025 as a Turning Point for Stablecoin Development Global regulatory frameworks are rapidly taking shape and continuing to evolve, marking 2025 as a watershed year for stablecoin development. A market valued at over $250 billion is transitioning from unchecked growth to compliance-driven transformation. Core Definition and Classification of Stablecoins Stablecoins are a type of cryptocurrency designed to maintain a stable value by pegging to fiat currencies, co...

The AI agent market has seen declining hype following a sharp drop in token prices, but technological development continues to advance steadily. The DeFAI (Decentralized Finance AI) sector is regaining attention through the launch of practical products and specialized on-chain functionalities, with representative projects like Wayfinder and HeyAnon using dedicated AI agents to execute automated investment strategies and on-chain tasks. Market Restructuring: Early generic agent projects are gr...

Early token holders often control a significant portion of a cryptocurrency's supply, making their buying and selling decisions critical to market trends. Understanding their behavioral patterns can provide traders with valuable insights into potential price reversals or market tops. This featured content, translated by Running Finance’s Web3.0 Research Lab, is adapted from Antonio Manrique de Lara Martín’s Tracking Early Token Holder Behavior. By analyzing four key metrics—Early Holder Balan...

This report outlines the current state of stablecoins on Solana, quantifying adoption levels, highlighting product diversity, and exploring real-world use cases.Solana Stablecoin Adoption TrendsThis section presents key data on stablecoin adoption and usage, emphasizing transaction volume, user engagement, and network growth.Total Stablecoin Supply on SolanaSolana’s stablecoin supply surged in Q1 2025, more than doubling from $5.2B in January to $11.7B in February—a 2.25x increase. This spike...