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According to Odaily, Robert Hackett, Special Projects Lead at a16z Crypto, wrote that the term “stablecoin” is gradually losing its relevance over time. Stablecoins were originally created during periods of high volatility in crypto markets, thus emphasizing their “stability” feature. However, as technology evolves, stability has become a fundamental aspect and evolved into global financial infrastructure. The crypto industry’s focus has shifted from “is it stable” to “what else can be built”; stability has become a basic threshold, not an innovation itself. Therefore, “stablecoin” as a term is more like a patch for an old issue, rather than a definition for the new financial system. In the future, the concept of stablecoins may eventually fade into broader terms such as “digital dollar” or “on-chain asset,” or even become fully integrated into the underlying financial system—just as the term “electric light” replaced “electric illumination.”

According to Odaily, the Zcash Foundation has officially announced the release of Zebra version 4.4.0. This update fixes several critical consensus-level security vulnerabilities and strongly recommends that all node operators upgrade immediately. The addressed issues include a denial-of-service vulnerability that may permanently halt new block discovery, a consensus split caused by errors in block signature operation (sigops) counting, abnormal handling of transparent transaction signature hashes, and increased risk of memory allocation amplification attacks. The Zcash Foundation stated that some of these vulnerabilities could cause Zebra nodes to accept blocks rejected by zcashd, potentially leading to chain splits. Without timely updates, nodes may face risks such as disruptions in block discovery, consensus forks, and increased resource consumption. There are currently no alternative mitigation measures available.

According to Odaily, CryptoQuant analyst Axel Adler Jr posted on X, stating that the Adjusted Realized Price Bands model, calibrated based on Bitcoin's current circulating supply, indicates that Bitcoin only truly enters a medium- to long-term bottoming phase if it falls to the critical $59,000 range. The bottom formation is not a short-term process and will not be completed within one to two weeks; under the base case scenario, it is expected to take about six months. Axel Adler Jr emphasized that although Bitcoin has risen recently, the real driving force behind the market stabilizing is not an improvement in sentiment or a local rebound, but the return of long-term genuine demand. In other words, a true bottom can only be established when the market resumes pricing in future value and spot buying steadily recovers.