"The downside risk is limited, but the upside still needs a catalyst; the key window is approaching."

"The cryptocurrency market has entered a rebalancing phase after a high-level correction, with the market waiting for new momentum."

The total market value of global cryptocurrencies is $3.09 trillion, down from $3.22 trillion last week, a decrease of 4.03% in the total market value of cryptocurrencies this week.

This article will conduct an in-depth review of the cryptocurrency bills and policy measures that have been passed or are being promoted in the United States by 2025, analyze the market performance before and after the introduction of these measures, and look ahead to the regulatory landscape in 2026.

RaveDAO (RAVE) Research Report

"The cycle has not disappeared; rather, it has re-emerged in a more macro and structured manner within the context of institutionalization."

The total market value of global cryptocurrencies is $3.22 trillion, up from $3.15 trillion last week, with an increase of 2.2% in the total market value of cryptocurrencies this week.

After the Federal Reserve announced a rate cut on December 11, the market reacted tepidly except for gold. This is not due to a single reason, but because the market had fully priced in a 25 basis point rate cut before the meeting.

In the fourth quarter of 2025, the U.S. market welcomed a concentrated launch period for altcoin ETFs, with multiple single-asset spot ETFs being approved and listed one after another.

The total market value of global cryptocurrencies is $3.14 trillion, up from $3.03 trillion last week, representing an increase of approximately 3.6% in the total market value of cryptocurrencies this week.

"Liquidity has not loosened, trends are under pressure, and the market is entering a stage of high volatility and structural game."

This report will systematically discuss the basic concepts of DID and on-chain KYC, key technologies (including ZK, VC, composable credentials, etc.), practical applications, and regulatory requirements.

The total market value of global cryptocurrencies is $3.15 trillion, up from $3.14 trillion last week, with an increase of approximately 0.32% in the total market value of cryptocurrencies this week.