#DeFi代币化证券与金融上链 After reading Cantor's year-end report, it's quite interesting. The expectation of a crypto winter in 2026 isn't new, but the key change is here — the decline driven by institutional dominance is completely different from the panic sell-offs by retail investors in the past.

What does this mean? The market resilience is stronger, but it also tests traders' fundamental sense more. The "divergence" in DeFi and tokenized assets is widening, essentially meaning that price volatility is increasingly disconnected from true value, which directly impacts copy-trading strategies.

Recently, I adjusted my position-sizing logic — in this environment, I am actually reducing the proportion of trades following purely technical experts and increasing the weight of traders who are sensitive to on-chain fundamentals. The passage of policies like the "Digital Asset Market Clarity Act" will accelerate institutional entry, and traders who position early based on this logic can often catch early opportunities.

Under the expectation of a winter, it may seem like risks are increasing, but for those who can distinguish "market noise" from "fundamental signals," it’s actually a good opportunity to filter out opponents. Stop-loss boundaries should be maintained, but the direction of bets can be more patient. As prices cool down, real infrastructure is being solidified — this is a phrase worth pondering repeatedly.