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The article uses Brian Armstrong's behavior during the Coinbase earnings call to vividly illustrate George Soros' "reflexivity theory," which posits that market prices can influence the actual value of assets. The article further explores how financial markets actively shape reality, using examples such as the corporate conglomerate boom, the 2008 financial crisis, and the current artificial intelligence bubble to explain the workings of feedback loops and their potential risks. Summary generated by Mars AI This summary was generated by the Mars AI model, and the accuracy and completeness of its content are still being iteratively improved.
The Perp DEX sector has successfully passed the technology validation period and entered a new phase of ecosystem and model competition.
As the crypto market shifts from “listening to stories” to “seeing results,” TRON demonstrates a feasible path through its solid ecosystem foundation and value circulation.
- 17:53Data: 14,400 SOL transferred out from a certain exchange, routed through an intermediary, and flowed into WintermuteAccording to ChainCatcher, Arkham data shows that at 01:48, 14,400 SOL (worth approximately $2.06 million) were transferred from an exchange to Wintermute.
- 17:46fantasy.top responds to rumors: The platform will not shut down and the core content will remain unchangedJinse Finance reported that the decentralized card game fantasy.top has responded to rumors of an "imminent shutdown," stating that the platform will not be closed. The core content will remain unchanged and will continue to be a key focus for future development. Updates to gameplay, balance adjustments, and new version iterations will continue, and the team will provide long-term support and active development. The core game reward treasury currently holds 640 ETH.
- 17:05Nillion will gradually migrate to EthereumJinse Finance reported that the privacy-preserving secure computation network Nillion will gradually migrate to Ethereum. According to the official announcement, it will first migrate its treasury and NIL tokens from NilChain to the Ethereum mainnet, adopting a new ERC-20 token contract. In February 2026, the team will launch a cross-chain bridge to the Ethereum mainnet, allowing users to migrate NIL tokens from the Cosmos network to Ethereum and participate directly in the Ethereum ecosystem. In addition, next year the team will deploy the Nillion L2 layer on Ethereum based on native smart contracts and network tools, enabling staking functionality and on-chain coordination mechanisms through developers' existing wallets and infrastructure, and seamlessly integrating Nillion's private computation and storage layer.