The cryptocurrency market has shown a differentiated trend in the past week. BTC and ETH continue to fluctuate within high-range zones, with market sentiment remaining cautious. Altcoins have performed inconsistently—some rallying in tandem, others entering correction phases. Meanwhile, the US stock market has been relatively weak, with the Dow Jones down 0.06%, the S&P 500 down 0.05%, and the Nasdaq down 0.04%. However, the crypto-related stocks have performed well, with most experiencing slight gains.

On the on-chain activity front, there have been several interesting developments. Three major whales recently deposited a total of $9.98 million USDC into the Lighter platform to purchase 3.44 million LIT tokens, reflecting institutional confidence in the project. Grayscale is also accelerating its布局, submitting an initial S-1 form to the SEC for TAO-related products, planning to convert the Grayscale Bittensor Trust into an ETF product with the ticker GTAO.

The tokenization sector is also heating up. Ondo’s tokenized silver product SLV has performed remarkably well, with a market cap increase of over 155% in 30 days, now approaching $18 million. Essentially, this product is the on-chain version of the iShares Silver Trust, allowing holders to earn the same returns as traditional silver ETFs and automatically reinvest dividends. This model seems to attract significant venture capital interest.

Additionally, NVIDIA is in talks to acquire Israeli AI company AI21 Labs for up to $3 billion, indicating that AI chip giants are strengthening their AI algorithm capabilities. In terms of infrastructure, Sui announced the launch of privacy transaction features in 2026, and the Web3 Foundation has also adjusted its funding strategy, shifting from a technology-driven approach to a more pragmatic product-oriented focus.