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BTC $77,404.07 +2.83%
ETH $2,432.10 +3.12%
BNB $641.92 +0.90%
XRP $1.49 +1.82%
SOL $89.48 -0.42%
TRX $0.3268 -0.02%
DOGE $0.1001 +0.76%
ADA $0.2616 +0.76%
BCH $455.03 +1.93%
LINK $9.69 +0.76%
HYPE $44.32 +0.47%
AAVE $117.71 +0.56%
SUI $1.01 +1.61%
XLM $0.1744 +4.32%
ZEC $332.03 -3.27%

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The US SEC has accepted the NYSE's new regulations, proposing to introduce a tokenized securities trading mechanism to support on-chain settlement

The SEC released a document (34-105260) disclosing the rule change application submitted by the NYSE, intending to formally introduce a framework for trading tokenized securities.According to the proposal, the NYSE plans to add Rule 7.5, allowing eligible securities to be traded and settled in a blockchain-based tokenized form in addition to traditional forms. The relevant arrangements will operate under the DTC pilot program. The core mechanisms include: tokenized securities and traditional stocks will share the same trading code (CUSIP) and rights structure, and will be fully interchangeable; in the matching system, tokenized and traditional securities will have the same execution priority, and the order of transactions will not be affected by the different forms; trading participants can choose to settle and clear in an on-chain form through a tokenization flag, with specific processing carried out by custodians. Additionally, the NYSE also plans to simultaneously modify order sorting, routing, and clearing rules to accommodate the trading process of tokenized securities, ensuring seamless integration with the existing market structure.From a market perspective, this proposal signifies that traditional U.S. securities exchanges are officially exploring the introduction of blockchain technology into the core trading and settlement systems. If approved, it could become an important milestone for on-chain securities entering mainstream financial infrastructure.

Illustration of 78 Web3 Business Partners in Anchorage: A Financial Bridge Connecting Wall Street and the On-Chain World

The Web3 asset data platform RootData has outlined 78 business partners of Anchorage, including over 30 DeFi protocols, more than 20 blockchain infrastructure projects, as well as various stablecoins and payment settlement networks, covering the complete path from asset issuance to on-chain operations.Represented by institutions like BlackRock, products such as ETFs bring funds into the crypto market, after which Anchorage assumes custody and compliance responsibilities. These assets are then deployed on-chain, participating in liquidity operations and yield generation through DeFi protocols, stablecoin systems, and infrastructure networks. Ultimately, they flow back into the traditional financial system through OTC, trading, and clearing paths.In this process, Anchorage's role is not just "custody," but a key node throughout the entire lifecycle of funds, with its upstream and downstream including crypto-native institutions such as A16z, Blockchain Capital, Electric Capital, and Defiance, as well as DeFi protocols, L1/L2 networks, stablecoins, and clearing and settlement systems, along with fintech companies like AngelList and Series Financial, as well as payment companies and core banking systems.Anchorage's partner strategy emphasizes "key path coverage," ensuring that funds have corresponding infrastructure at every stage. As compliant entry points like ETFs gradually open up, the crypto market shifts towards asset allocation-driven strategies, and bridge-type institutions like Anchorage are moving from the background to the core. Related compilation: Anchorage Web3 Partner Network Compilation (continuously updated)Crypto projects actively showcasing their partner networks have become a key way to enhance transparency and market trust. It is reported that RootData welcomes Web3 project parties to claim data and continues to track and open more project business relationship disclosure channels. The platform has continuously released multiple editions of crypto project ecological maps, nominating Web3 ecological partners for upstream clients such as Visa, Mastercard, and Coinbase.If you wish to nominate your project in future ecological maps, please fill out the RootData 2026 Industry Ecosystem Mapping form to supplement your important clients and partners.

Analyst: The Bitcoin funding rate has dropped to a new low since 2023, which may trigger a short squeeze, and BTC is expected to rise to $125,000

According to CoinDesk, Bitcoin is currently priced at $74,700, down 0.4% in the last 24 hours. News of ceasefire negotiations between the U.S. and Iran has boosted risk sentiment, with the S&P 500 index reaching a record high on Thursday. Trump stated that the prospects for a permanent ceasefire between the U.S. and Iran "look very optimistic," claiming that Iran has agreed to abandon its nuclear ambitions, hand over nuclear materials, and reopen the Strait of Hormuz, although Iran has not yet confirmed these concessions.Meanwhile, the market is closely monitoring the structural signals behind Bitcoin's price movements. ZeroStack CEO Daniel Reis-Faria stated, "The funding rate is so negative that it indicates the market is heavily short. If Bitcoin continues to rise in this context, a large number of short positions may be forced to close, further accelerating the price upward." He predicts that if the short base is forced to cover, Bitcoin could reach $125,000 within the next 30 to 60 days.On-chain analyst CryptoVizArt provided another perspective: Bitcoin's "True Market Mean" (TMM) shows that the average cost basis of active holders is currently above the market price, indicating that holders are overall in a state of unrealized losses. Since 2016, consistently falling below this mean has often coincided with Bitcoin's most severe downturns, including the bear market from 2018 to 2019 (with a maximum drop of 57%, lasting 282 days) and the decline following the Luna and FTX collapses from 2022 to 2023 (with a maximum drop of 56%, lasting 339 days).Analysts point out that these two judgments are not mutually exclusive—the short squeeze triggered by the extremely negative funding rate and the structural pressure of overall unrealized losses among active holders can coexist. The former may trigger a significant rise, but ultimately could be absorbed by selling from the latter. The future market direction may depend on whether the U.S.-Iran ceasefire can be sustained after its expiration next week.
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