BlockBeats 消息，9 月 19 日，据 Dune 数据，friend.tech「Keys」总市值已达 1.09 亿美元（109,253,879 美元）。其平台创始人 Racer「Keys」市值占比达 30.6%。
若将「Keys」总市值数据类比至 NFT，则暂列 NFT 市值排行榜第五位，已超过 SANDBOX'S LANDS（0.78 亿美元）、Azuki（0.62 亿美元）等项目，前四位分别为：CryptoPunks（7.35 亿美元）、BAYC（4.00 亿美元）、Chromie Squiggle by Snowfro（1.63 亿美元）、MAYC（1.57 亿美元）。

friend.tech「Keys」总市值已接近Azuki总市值的两倍

BlockBeats news, on September 19, according to Dune data, the total market value of friend.tech "Keys" has reached US$109 million (US$109,253,879). Its platform founder Racer “Keys” accounts for 30.6% of the market value.
If the total market value data of "Keys" is compared to NFT, it is temporarily ranked fifth in the NFT market value rankings, surpassing projects such as SANDBOX'S LANDS (US$78 million) and Azuki (US$62 million). The top four are: CryptoPunks ( $735 million), BAYC ($400 million), Chromie Squiggle by Snowfro ($163 million), MAYC ($157 million).

friend.techThe total market value of "Keys" is nearly twice the total market value of Azuki

In the crypto world, what truly determines victory is never code, but the interplay between liquidity, power, and regulation. The rise and fall of BUSD is not merely a tragic tale of a stablecoin, but a financial war waged by exchanges attempting to "unify the world."

When BUSD was thrust onto the historical stage, it carried not only a compliance narrative, but also Binance's ambition to reshape the stablecoin order through coercive measures—by manipulating exchange rates and merging trading pairs, directly swallowing competitors' liquidity into its own ledger.

The "automatic conversion" of 2022 was a textbook example of a blitzkrieg; and 2023...

The Rise and Fall of Binance's Dominance: From BUSD's "Unification" to $U's "Conquering the World"—The Stablecoin Wars

Source: Galaxy Research; Translation: Jinse Finance xz
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 breakthrough 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 margin calls, and massive...

Galaxy: 26 Predictions for the Crypto Market in 2026

Messari released "The Crypto Theses 2026," a report that predicts future trends in public blockchains, DeFi, AI, DePIN, and TradFi. From Messari's perspective, 2026 will be a pivotal year for cryptocurrencies, marking a shift from "speculative" to "system-level integration."

Author: Messari
Compiled/Translated by: ODIG Invest
Messari Releases "The Crypto Theses 2026"...