For a long time, TGE (Token Generation Event) has been regarded as the "finish line" in Crypto. However, after a series of narrative collapses and liquidity shortages, this logic is undergoing a structural reversal.
With regulatory policies taking effect and institutional forces participating, we may see a larger wave of TGE.
As 2026 approaches, we are in a critical period of transformation in the Crypto market.
In this market context, TGE has become an "adulthood ceremony" filled with anticipation but also significant pain for each project.
In this cycle, when we observe and discuss the significance, quantity, frequency, and changes of TGE (Token Generation Event) occurrences, it becomes clear that Crypto is shifting from a phase of "valuation discovery" to "value discovery."

NVIDIA acquires all assets of AI chip startup Groq for approximately $20 billion, marking its largest acquisition. Groq specializes in low-latency AI inference chips, and its executive team will join NVIDIA, but Groq will continue to operate independently.

火星财经消息，据 Arkham 监测数据显示，大约一小时前，灰度向 Coinbase Prime 地址转移总计 17,148 枚 ETH，价值约合 50,260,000 美元；此外，灰度还向 Coinbase Prime 地址转移约 117.247 枚 BTC，价值约合 10,230,000 美元。

火星财经消息，etherscan 在 X 平台表示，以太坊 L1 单日交易笔数创 2025 年新高。昨日，以太坊处理了 1,913,481 笔交易，平均交易手续费为 0.16 美元。

Mars Finance reports that Nasdaq 100 Index futures rose to intraday highs, indicating a positive market performance.

Mars Finance reports that Ethereum L1 processed 1,913,481 transactions on December 23, setting a new record for the highest daily transaction volume in 2025, with an average transaction fee of $0.16.

Bitcoin reached a high of $126,000 on October 6th and was subsequently liquidated for $19 billion, currently around $87,000. Market divergence persists, with analysts pointing out that the four-year cycle is shifting in favor of global liquidity and sovereign adoption, while most top traders maintain a short-term bearish outlook.

Recently, the Aave community has experienced governance disputes over the attribution of front-end commercialization revenue, which has triggered a re-examination of governance structure and business boundaries. In this round of governance controversy, the development entity Aave Labs, after integrating CoW Swap into the application front end, saw the additional fees generated from related transactions flow directly to addresses controlled by Labs, leading to community disputes over revenue transparency, brand asset ownership, and governance rights boundaries. In response to this issue, the community officially proposed the ARFC proposal, with the core demand to clarify the governance ownership of Aave brand assets and other related intangible assets, requiring the transfer of domain names, social media accounts, and brand-related intangible assets to DAO management. Currently, this proposal has entered