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According to Odaily, Annabelle Huang, co-founder and CEO of Altius Labs, stated that Wall Street trading institutions' Alpha is shifting from physical custody and nanosecond-level speed advantages to the use of on-chain infrastructure. Jump has leveraged its high-frequency trading experience to develop the high-performance validator client Firedancer for Solana, and its supported project DoubleZero is seeking to commercialize its global private fiber and submarine cable network to reduce latency. Cumberland is providing real-time crypto market data for Pyth Network. Jane Street traded over $110 billions in cryptocurrencies in 2024 and recently hired Copper's former head of infrastructure architecture. As stablecoins and real-world asset tokenization inject liquidity, the scale of on-chain markets will continue to expand, and future Alpha will come from the production, ordering, and monetization of block space.

WisdomTree announced the expansion of its tokenized funds to the Solana blockchain, supporting its real-world asset products. Institutional and retail investors can mint, trade, and hold the full range of tokenized fund products on Solana through the WisdomTree Connect and WisdomTree Prime platforms.

ChainCatcher reported that CryptoQuant analyst Woominkyu stated that the market may be transitioning to a bear market structure, rather than experiencing a temporary pullback within a bull market trend. Bitcoin's Supply in Loss (SALL) has started to rise again. According to historical data, this shift marks the early stage of a bear market, when losses begin to spread—not only limited to short-term holders, but gradually affecting long-term participants as well.