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Crypto Sell Off - Cryptocurrency markets experienced a sell-off attributed to turmoil surrounding potential Trump tariffs.
Solana Falls - Solana (SOL) saw volatility, falling from a high of $145 before rebounding to $127.73 (a 4.52% increase).
CFTC Future Proofs - CFTC Chair Michael Selig announced the "Future Proof" initiative to modernize the agency's approach to digital assets, aiming for the "minimum effective dose of regulation."
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Messari's protocol reports give you a deep dive on the foundation and state of top crypto protocols, including key metrics and notable events. See the complete list of protocol reports here and get a preview of our latest report below.
Network activity reached new heights in Q4, with average daily transactions increasing 13.7% QoQ to 10.2 million and average daily active addresses growing 12.3% to 2.8 million.
In Q4 2025, TRON experienced a contraction in revenue, falling below the billion-dollar mark achieved in the previous quarter. Total revenue in USD decreased by 38% QoQ, dropping from $1.1 billion to $655.6 million.
The stablecoin ecosystem continued its steady expansion, with TRON’s stablecoin market cap increasing 7.0% QoQ to $81.8 billion. USDT remains the dominant asset with a $80.9 billion market cap, representing over 99% of the network's stablecoin supply.
Ecosystem momentum was driven by major institutional and cross-chain integrations, including native staking on Ledger Live, TRX launching on the Base network via LayerZero, and USDT on TRON being cleared by the Abu Dhabi Global Market (ADGM) for regulated use.
SunPerp marked a successful first full quarter, achieving over $25 billion in total trading volume since its launch, utilizing a hybrid model to offer zero-gas-fee trading and high-speed execution.
Stable launched its Layer-1 blockchain mainnet on Dec. 8, 2025, designed specifically to support high-throughput, low-cost USDT transfers for both retail users and institutions.
Unlike typical chains, Stable uses USDT as the native gas/payment token, removing reliance on volatile tokens for transaction fees.
The protocol’s native token, STABLE, has a 100 billion supply and is used for governance and securing the network via staking/delegation, not for paying gas fees.
Architecturally, Stable combines a delegated Proof-of-Stake consensus, an EVM-compatible execution layer, and optimized storage/RPC to enable fast settlement and familiar developer tooling.
Bitget’s Universal Exchange (UEX) model combines centralized efficiency, decentralized accessibility, and traditional financial product offerings into a unified trading experience for retail and institutional participants. The UEX model comprises the core centralized exchange, Bitget Onchain, Bitget Wallet, Morph, and GetAgent.
Tokenized stocks are emerging as a high-growth vertical in the Bitget ecosystem. Since launching in July, a total of $17.1 billion in tokenized stock futures volume has been generated.
Bitget Onchain is the primary mechanism for integrating multichain access into the platform. Launched in April 2025, it enables users to trade onchain assets using CEX balances across multiple networks, generating over $2.4 billion in cumulative volume.
GetAgent is the platform’s AI assistant, designed to simplify the user experience as product coverage expands. Beyond market insights and guided execution, GetAgent has been used as a distribution channel for engagement campaigns.
From Our Sponsor
On Dec. 18, Predict.Fun launched an onchain prediction market on BNB Chain. One month later, it has posted numbers that stand out in an increasingly crowded field.
As of Jan. 19, Predict.Fun surpassed $429.1 million in cumulative notional volume, with $22.6 million in open interest (OI). It has onboarded 37,100 unique wallets, processed 553,800 transactions, and generated $237,100 in fees. Predict.Fun is now just the fourth prediction market to exceed $3 million in OI, and it has already cleared $22.6 million.
The launch was not quiet. Predict.Fun is backed by YZi Labs, the venture arm of Binance, and Binance founder CZ endorsed the platform on X.
It functions similarly to onchain competitors like Polymarket and Opinion.Trade, but with one big distinction: it generates yield on open positions. In traditional prediction markets, liquidity is frozen once committed, locking capital for days, weeks, or months. That idle capital carries real opportunity cost.
Predict.Fun partnered with Venus, a BNB Chain lending and synthetic stablecoin protocol, to deploy USDT collateral from short-term prediction markets into a decentralized money market for yield, with plans to scale this across all market durations in the future. As of Jan. 19, 59% ($13.4 million) of OI on Predict.Fun is earning yield on Venus.
This shift carries two clear impacts. First, it lowers the barrier to taking longer-term positions. A user who hesitates to lock funds for 30 days may be more willing to do so when those funds continue to earn. Second, it can stabilize liquidity. When users know collateral stays productive, they have less reason to close positions early.
The yield layer is also abstracted. Predict.Fun executes yield generation automatically, therefore users do not need specialized DeFi knowledge. The platform handles routing, yield collection, and distribution behind the scenes, making the process accessible even to users who have never touched DeFi.
The site is still labeled “beta,” the product is still being built out across all markets, and liquidity remains the primary challenge for every prediction market. Predict.Fun is far from a final product. But the opportunity is large: $867.1 million in OI across non-Predict.Fun platforms remains non-yielding.
Predict.Fun has a clear differentiator versus non-yielding prediction markets, and that alone could drive user rotation. Time will tell, but this represents a meaningful product unlock for prediction markets in 2026.
