8 月 26 日，据官方消息，互操作性协议 Union 公布 U 代币经济学，初始总发行量为 100 亿枚，其中初始流通量为 1,919,050,000 枚（占通胀前总量的 19.19%），其中：
战略投资者分配 21.4%；生态系统分配 14.1%；基金会分配 20%；社区激励分配 12%；DAO 财库 12.5%；核心贡献者 20%。
Union 将以年化 6% 的代币通胀率启动，该通胀率每年下降 10%，直至降至 2%。该通胀率为固定百分比，不会因质押数量而变化。

<div><p>8 月 26 日，据官方消息，互操作性协议 Union 公布 U 代币经济学，初始总发行量为 100 亿枚，其中初始流通量为 1,919,050,000 枚（占通胀前总量的 19.19%），其中：</p><p>战略投资者分配 21.4%；生态系统分配 14.1%；基金会分配 20%；社区激励分配 12%；DAO 财库 12.5%；核心贡献者 20%。</p><p>Union 将以年化 6% 的代币通胀率启动，该通胀率每年下降 10%，直至降至 2%。该通胀率为固定百分比，不会因质押数量而变化。</p></div>

Union公布U代币经济学，社区激励占比12%

On August 26th, the interoperability protocol Union officially announced its U token economics. The total initial supply is 10 billion, with an initial circulating supply of 1,919,050,000 (19.19% of the total pre-inflation supply). This includes:
Strategic investors (21.4%); the ecosystem (14.1%); the foundation (20%); community incentives (12%); the DAO treasury (12.5%); and core contributors (20%).
Union will launch with an annualized token inflation rate of 6%, which will decrease by 10% annually until it reaches 2%. This inflation rate is fixed and does not change based on staked tokens.

<div><p>On August 26, the interoperability protocol Union announced the U token economics, with an initial total issuance of 10 billion tokens, of which 1,919,050,000 tokens were initially in circulation (accounting for 19.19% of the total before inflation), including:</p><p> Strategic investors are allocated 21.4%; the ecosystem is allocated 14.1%; the foundation is allocated 20%; community incentives are allocated 12%; the DAO treasury is allocated 12.5%; and core contributors are allocated 20%.</p><p> Union will launch with an annualized token inflation rate of 6%, which will decrease by 10% each year until it reaches 2%. This inflation rate is a fixed percentage and does not change based on the amount of staked tokens.</p></div>

Union announces U token economics, with community incentives accounting for 12%

Following the controversy surrounding Fundstrat's Bitcoin views, co-founder Tom Lee responded, stating that the "contradictory predictions" seen by outsiders were actually research conclusions from different positions and timelines, not internal disagreements. Previously, Sean Farrell, head of digital asset strategy at Fundstrat, suggested that Bitcoin might retrace to the $60,000-$65,000 range in the first half of 2026; while Tom Lee believed Bitcoin could reach new highs, even surging to $200,000 as early as the beginning of 2026. A Fundstrat...

Tom Lee responds to Fundstrat's "contradictory" views on Bitcoin: Different positions, different timelines, not internal disagreements.

Next Week's Key Preview

December 22nd

Aster: Phase 5 airdrop will begin on December 22nd and last for 6 weeks;

Espresso will open airdrop registration on December 22nd;

December 23rd

The U.S. Bureau of Economic Analysis will release third-quarter GDP data on December 23rd;

December 24th
U.S. and European stock markets will be closed for Christmas, and whether a "Christmas rally" will materialize remains uncertain;

The U.S. will release initial jobless claims for the week ending December 20th;...

Must-watch items next week: US Bureau of Economic Analysis to release Q3 GDP data; Aster launches fifth phase of airdrop (December 22-28).

Source: Galaxy Research
Translation: Jinse Finance
Bitcoin's closing price in 2025 is expected to be roughly the same as the level at the beginning of the year.
The cryptocurrency market experienced a genuine bullish wave in the first ten months of this year. Regulatory reforms continued to advance, ETFs continued to attract funds, and on-chain activity became increasingly active. Bitcoin hit an all-time high of $126,080 on October 6th.
However, the market failed to deliver the expected breakout after the initial frenzy; instead, it experienced rotation, repricing, and rebalancing. This was driven by factors such as unmet macroeconomic expectations, a shift in investment narratives, leveraged liquidations, and the actions of whale...